In accordance with the schedule announced in July 2016, SUEZ has acquired a 10.85% stake in ACEA from the Caltagirone group, in exchange for SUEZ new shares.
The meeting of the SUEZ Board of Directors held on 21 September 2016 confirmed the valuation of the 10.85% stake in ACEA on the basis of the report of the contribution auditor, and authorised the remuneration of this contribution by increasing the capital by 20 million new shares.
As a result of this operation, SUEZ now holds 23.33% of the capital of ACEA, a leading Italian operator in the water, energy and environmental sector that is 51% owned by the city of Rome. Caltagirone, which received 20 million SUEZ new shares, becomes a long-term shareholder in SUEZ, holding a stake of about 3.5% of the capital that is subject to a lock-up period of four year and having expressed its intention to possibly increase its stake in SUEZ up to 6% in the coming years.
Under the terms of the framework agreement signed in July 2016, a representative of Caltagirone will be proposed by the SUEZ Board of Directors to become a Director at the 2017 Annual Shareholders’Meeting at the latest.
This transaction consolidates SUEZ’s position on the environmental markets in Italy and strengthens its shareholder structure with a new long-term shareholder that is a major industrial player, in particular in Italy, Scandinavia and Turkey, with which SUEZ will be able to develop industrial cooperation.
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