SUEZ ENVIRONNEMENT (EPA:SEV) SUEZ with the support of Ardian and GIP, proposes an amicable solution in the interest of all stakeholders
Transparency directive : regulatory news
17/01/2021 19:01
Click here to download pdf version
Press release
Paris, January 17th 2021
SUEZ with the support of Ardian and GIP, proposes an amicable solution in the
interest of all stakeholders
The Board of directors of SUEZ today received a letter of intent from Ardian
and GIP (Global Infrastructure Partners), which would facilitate the emergence,
and in a short time frame, of an amicable solution to the situation created by
Veolia's approach.
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.
Philippe VARIN, Chairman of the Board of Directors, noted: "The Board of
Directors gives its unanimous support to the solution envisaged with the
participation of responsible, long-term, top quality investors. It has mandated
the Group's CEO to continue to work to deliver it, including opening
discussions with Veolia to reach a solution in line with SUEZ' corporate
interest."
Bertrand CAMUS, Chief Executive Officer, commented: "In keeping with our
Purpose, SUEZ proposes, with the support of Ardian and GIP, to open a
constructive dialogue with Veolia with the aim of building a solution in
coherence with the strategies of both Groups, and which would reinforce both of
the two French leaders in environmental services. This project has the support
of SUEZ' Board, its employee shareholders and the Group's management: it
respects the interests of all stakeholders - shareholders, employees and
clients - in France and internationally."
CONTACTS
Media
Isabelle Herrier Naufle
isabelle.herrier.naufle@suez.com
+33 6 83 54 89 62
Analysts/Investors
Cécile Combeau / Baptiste Fournier / Julien Minot
+33 6 32 35 01 46
About SUEZ:
Since the end of the 19th century, SUEZ has built expertise aimed at helping
people to constantly improve their quality of life by protecting their health
and supporting economic growth. With an active presence on five continents,
SUEZ and its 90,000 employees strive to preserve our environment's natural
capital: water, soil, and air. SUEZ provides innovative and resilient solutions
in water management, waste recovery, site remediation and air treatment,
optimizing municipalities' and industries' resource management through "smart"
cities and improving their environmental and economic performance. The Group
delivers sanitation services to 64 million people and produces 7.1 billion m3
of drinking water. SUEZ is also a contributor to economic growth, with more
than 200,000 jobs created directly and indirectly on an annual basis, and a
provider of new resources, with 4.2 million tons of secondary raw materials
produced. By 2030, the Group is targeting 100% sustainable solutions, with a
positive impact on our environment, health and climate. SUEZ generated total
revenue of EUR18.0 billion in 2019.
Find out more about the SUEZ Group on the website & on social media
Facebook Twitter Likedin YouTube
SUEZ
Head Office: Tour CB21 - 16, Place de l'Iris, 92040 Paris La Défense Cedex,
France - Tel: +33 (0)1 58 81 20 00 - www.suez.com
Limited Liability Company with a share capital of EUR2,513,450,316 - Siren
(French business administration number) 433 466 570 RCS Nanterre -
VAT FR 76433 466 570