SUEZ with the support of Ardian and GIP, proposes an amicable solution in the interest of all stakeholders
On such a basis, SUEZ is willing to open a dialogue with Veolia with the aim of building a solution in the interest of all concerned parties, which would reinforce both of the two French leaders in environmental services.
In the context of friendliness between SUEZ and Veolia and in all cases without dismantling SUEZ, the letter of intent paves the way to a global solution, through different arrangements all with equivalent effect, including an offer by the investors for SUEZ’ shares at a price of EUR 18 per share (cum dividend). The proposal is subject in particular to the completion of confirmatory due diligence.
The Board of Directors of SUEZ met today and unanimously welcomed this approach which, as well as enabling an offer to all of SUEZ’ shareholders with a rapid execution, also:
- reinforces both of the two French leaders in environmental services through a friendly solution,
- protects employment in France and internationally during the current critical economic situation,
- maintains necessary competition, notably in France
- accelerates SUEZ’ growth strategy in key markets
- increases SUEZ’ capacity to invest, notably in innovation and technology expertise
- maintains a majority French shareholding structure with a significant increase in the Group’s employee shareholders.