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Company News

Investment fund Ardian decides against bid for Suez

PARIS, Oct 5 (Reuters) - Investment fund Ardian has decided not to make a bid for French waste and water utility Suez in competition with bigger rival Veolia, it said on Monday.

“Ardian has worked on a bid, supported by the board and staff of Suez, requiring six weeks of due diligence. However, in line with the principle of non-hostile talks, Ardian has decided not to make a bid,” Ardian said in a statement. (Reporting by Geert De Clercq and Gwenaelle Barzic Editing by David Goodman )

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