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The Ardian fund, “backed” by Suez, “interested” in buying Engie shares coveted by Veolia

2020-10-01T07:09:27.467Z


The Ardian fund, historically linked to the insurer Axa, wishes to constitute "a consortium of private and public institutional investors, predominantly French" to carry out this project.


The French fund Ardian announced on Thursday that it wanted to form a consortium of investors to buy from Engie its 29.9% in Suez, a stake already coveted by Veolia whose offer at 3.4 billion euros was received "

favorably

" by the energy group on Wednesday evening.

To read also: Jean-Pierre Clamadieu: "There is space for an agreement between Veolia and Suez by Monday"

Arguing of the “

support

” of the giant of the board of directors of Suez and of the director representing the employees, Ardian indicated in a press release that he had informed Engie of his “

interest

” for its shares held in the giant of personal services 'environment.

"

Ardian wishes to form a consortium of private and public institutional investors, predominantly French, to carry out this project and launch a friendly public offer

," he said in his press release.

On Wednesday evening, the prospect of an agreement between Veolia and Engie on the sale of the latter's shares in Suez had however drawn closer, the two groups nevertheless giving themselves until Monday to refine the details of a transaction at 3, 4 billion euros.

At the end of a long board of directors, a few hours before the expiry of Veolia's offer, the energy company had said to welcome "

favorably

" the improved terms of this one for the 29.9% of the capital. de Suez which he owns.

Engie had, however, asked Veolia "

to extend the validity of its new offer until October 5, 2020 so that Veolia formalizes its unconditional commitment not to launch a takeover bid that is not friendly

", a request that has been accepted.

Suez, which strongly opposes the maneuver of its direct competitor, did not react Wednesday evening.

He had so far been unable to mount an alternative offer with investors in order to maintain his independence.

Read also: French Ardian raises a fund of 19 billion dollars

The Ardian fund indicates "to

manage and / or advise

" for 100 billion dollars of private investments in Europe, America and Asia.

The company, historically linked to the insurer Axa, is majority owned by its employees.

Source: lefigaro

All business articles on 2020-10-01

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