Suez says Veolia’s talk failed, takeover bid is still hostile


Suez SA said he still views the rival utility Veolia Environmental SA's approach to the occupation as hostile and downplayed hopes that the recent talks could pave the way for friendly relations between the two French giants.

Suez says Veolia’s talk failed, takeover bid is still hostile


"This proposal, especially the first step in buying a 29.9% stake in Suez from Angie, is still adversarial," Suez chairman Philippe Varin wrote in a letter to Veolia CEO Antoine Frerot-Waldner on October 4. Written

The proposed purchase at stake of $ 3.4 billion will be an opening gab only for Veolia, which wants to acquire the entire water company and become a global environmental services company. The intentions have raised concerns in the French government, which owns 24 Eng SA and has said no deal should be’ rushed.

French Finance Minister Bruno Le Maire told reporters in a telephone briefing on Sunday that an agreement between Suez and Veolia was still possible.

"The government urges both sides to resume talks in the near future to reach a friendly offer," Lee Meyer said, "the only solution that can protect the interests of employees and the country."

Private equity firm Arden SAS is also working on an offer for Angie Stack, backed by Switzerland. Ardian’s teams are working on a "signal" offer over the weekend that will be ready in the coming days, Le Journal du Dimanche reported on Sunday, quoting Matthias Burghardt, head of Ardian’s infrastructure. The newspaper added that it would take another six weeks for the firm to come up with a fixed price.

An Angie spokesman said Sunday that the company still intends to decide whether to hold its Suez by the September 5 deadline.

Veolia, which raised its bid from 15.5 euros to 18 euros on September 30, said earlier on Sunday that it had "unconditionally" pledged not to start a rival takeover bid for Suez after the stake was’ staked. Is. He described his talks with Suez Management as "constructive" and said he was guaranteeing that they would not take hostile action, which the NGB board had demanded was made’ possible.

In a separate statement on Sunday, Suez described Veolia’s press release as "misleading" and said talks between the two companies had failed. In his letter to Ferrero- Varin, Warren said Suez "showed goodwill and worked hard to find a solution that was acceptable to everyone," but Veolia’s proposal fell short.

As reported by the French daily Le Figaro on Saturday, Verne met on Thursday with Jean-Pierre Clamadieu, CEO of Veolia and chairman of Angie. Warren also told Le Figaro on Saturday that the situation with Veolia had "changed" and that they were working to see if the occupation plan could be "acceptable".

The Journal du Dimanche also said on Sunday that Angie was inclined to accept Claudio Dao's offer of a sweet 18-euro share of the Suez.


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