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Company News

Veolia says it plans to take control of Suez after securing Engie stake

PARIS, Oct 5 (Reuters) - French waste and water firm Veolia on Monday confirmed it planned to launch an offer to acquire rival 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.

“Veolia intends, following the acquisition of the 29.9% block of Suez shares, to take control of Suez,” Veolia said in a statement. “To this end, Veolia intends to file a voluntary takeover bid for the remaining Suez shares.”

The offer would match the price of 18 euros a share it will pay Engie for its stake, it said. (Reporting by Gwénaëlle Barzic; Editing by Richard Lough)

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