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Recourse by Veolia against the sale by Suez of strategic assets

2021-03-18T14:52:58.088Z


Veolia has filed an appeal with the Nanterre Commercial Court to request the suspension of any possible sale of strategic assets of Suez, its rival it is trying to acquire, he said Thursday, confirming information from Les Echos. The request was filed on Saturday. Read also: Veolia and Suez still not close to getting along The group is demanding that no sale take place relating in particular to


Veolia has filed an appeal with the Nanterre Commercial Court to request the suspension of any possible sale of strategic assets of Suez, its rival it is trying to acquire, he said Thursday, confirming information from Les Echos.

The request was filed on Saturday.

Read also: Veolia and Suez still not close to getting along

The group is demanding that no sale take place relating in particular to Suez's waste assets in Australia and Great Britain, until the Suez general meeting, expected before the end of June, can take a decision.

This appeal will give rise to a hearing on April 6, and by then, it is not suspensive, specifies the applicant.

Suez has never confirmed or denied any possible negotiations, refusing to "

comment on rumors

", but information from Australia in particular has placed Veolia on the defensive.

The Cleanaway Waste Management group in particular has confirmed “

its interest in a potential acquisition

” of the Australian assets.

For Veolia, such sales, representing 80% of Suez's waste activity outside France, would amount to “

scuttling

” the group.

Its CEO Antoine Frérot has already threatened Suez administrators with legal action who would authorize them.

The number one in the water and waste treatment sector launched on February 8 its takeover bid for Suez, in which it already holds 29.9% of the shares, purchased from Engie.

Source: lefigaro

All business articles on 2021-03-18

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