PARIS--(BUSINESS WIRE)--Regulatory News:
Following constructive discussions with the management of the Suez group since October 1, and as confirmed today to Jean-Pierre Clamadieu, Chairman of the Board of Engie, Veolia group (Paris:VIE) announces that it unconditionally commits not to file a hostile takeover bid following the sale of the shares held by Engie in Suez. Any public takeover bid on Suez's remaining capital will therefore require a prior favorable reception from Suez's board of directors.
Veolia thus provides the guarantee expressed by Engie's board of directors, in addition to the price offered and the strong social commitments made by the Group, thus making possible the sale of the 29.9% of the capital that Engie holds in Suez.
Veolia has also made a commitment to Philippe Varin, Chairman of the Board of Suez, to respond favorably to the request formulated by Suez to the public authorities to extend the scope of the assets sold to the buyer of Suez Eau France to international water assets for a total turnover of around 5 billion euros (including 2.2 billion euros for the French Water).
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Veolia group is the global leader in optimized resource management. With nearly 179,000 employees worldwide, the Group designs and provides water, waste and energy management solutions which contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them.
In 2019, the Veolia group supplied 98 million people with drinking water and 67 million people with wastewater service, produced nearly 45 million megawatt hours of energy and treated 50 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.189 billion in 2019 (USD 29.9 billion). www.veolia.com
