The Nanterre court ruled on Wednesday that the representative bodies of Suez did not have to ask Veolia to open an information-consultation procedure in the context of the purchase of 29.9% of its capital, which allows it was up to Veolia to find itself in a position to continue with the acquisition of its competitor.
"
The representative bodies of Suez personnel do not have to be consulted at this stage of the project by the company Veolia Environnement
", indicates the court which, ruling on the merits, considered that the social and economic committees (CSE) of Suez were "
ill-founded in claiming that Veolia has become a majority shareholder by the effect of this sale
".
Read also: Suez offers a way out for Veolia
Suez and Veolia have been clashing since the announcement in early October of the takeover by Veolia of the 29.9% of Suez owned by Engie.
The multinational headed by Antoine Frérot intends to acquire via a takeover bid (OPA) the remaining 70.1% of the capital of its competitor.
Solicited by the Suez unions, the courts had decided to suspend Veolia's offer until the social and economic committees (CSE) were consulted.
This consultation procedure for the 99 CSEs will be completed on May 31, 2021, according to management and Suez unions, when Veolia estimates that it can be completed as of February 5.
Veolia believes it has already sent the necessary documents in October, but the Suez unions say they do not have all the elements of the project.
In mid-January, Suez proposed a plan B by announcing that it had obtained an offer from the French Ardian and American funds GIP to achieve "
a friendly solution
" with its competitor.
The fate of Suez Eau France, which Veolia will have to cede in the event of a takeover, particularly worries the unions.
Veolia intends to sell these activities to the Meridiam fund.
The Suez EWC must give its opinion on the buyout project carried by Veolia by May 31.