Europe News

Suez vows to protect interests of shareholders after Veolia's confirmed bid

Key Points
  • Veolia on Monday confirmed it planned to launch an offer to acquire Suez after utility company Engie agreed to sell the bulk of its stake.
  • Veolia said the tender offer would not be made without first obtaining the green light from Suez's board.
Veolia operator inside TWA Hotel microgrid plant
Source: Christophe Majani-D'Inguimbert | Veolia North America

French waste and water firm Suez on Tuesday noted the purchase by rival Veolia of 29.9% of its capital in a "hostile manner and under unprecedented and irregular conditions."

Suez said in a statement it would "use all the means at its disposal to protect the interests of its employees, its clients and all its stakeholders, in particular to ensure equal and fair treatment of all its shareholders and avoid a creeping takeover or de facto control."

Veolia on Monday confirmed it planned to launch an offer to acquire Suez after utility company Engie agreed to sell the bulk of its stake. Veolia said the tender offer would not be made without first obtaining the green light from Suez's board and that it wanted to resume talks on Tuesday.