Veolia announced Thursday that it had sent a formal proposal to the board of directors of Suez to detail the public offer it intends to launch on its rival in water and waste, saying it is open to "
discussion
" on certain points .
Read also: Veolia-Suez: the secrets of a merciless war
"
This formal proposal describes all the elements of the industrial project, the social project and the financial conditions that Veolia will propose when the offer is actually submitted
," Veolia said in a press release.
Veolia had acquired last year 29.9% of Suez from the Engie group and intends to launch a takeover bid on the 70.1% of the capital which is not in its possession.
This project is considered hostile by Suez and the file has largely moved on the legal ground in recent months.
Veolia believes, however, that its approach announced Thursday constitutes "
a new step in the merger project
".
The group says it hopes "
that this new approach will enable all Suez shareholders to take cognizance of the terms of Veolia's offer proposal on which they will have to vote
".
Reminder of Veolia's promises
"
Today we are taking a new step, which brings us even closer to the realization of our project,
" said the CEO of Veolia, Antoine Frérot, quoted in the press release.
"
This step was expected: it allows Suez shareholders in particular to become officially acquainted with all the terms and conditions of our proposed offer and to form an opinion on its industrial, social and financial meaning
", he said. added.
The 6-page letter sent to Suez on Thursday, published by Veolia, takes up the group's promises on the industrial and social levels.
It also defends an offer at 18 euros per share, an "
extremely attractive
" price.
Read also: No year-end truce between Veolia and Suez
Antoine Frérot also cites “
points open for discussion
” on several subjects, including the thorny question of the future of the Suez Water France activity, which Veolia intends to transfer to the Meridiam fund.
The leader thus imagines that this set could have an “
international component
” with, for example, a presence in “
two or three countries
”.
