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Takeover bid for Suez: Veolia launches its € 2.5 billion capital increase


The takeover bid should be finalized by the end of the year, pending clearance from the competition authorities.

Veolia, the world leader in water and waste, announced Thursday the launch of a capital increase of 2.5 billion euros intended to finance part of the acquisition of Suez, its historic rival.

The group, which currently holds 29.9% of the capital of Suez, launched at the end of July a takeover bid for the remaining 70.1%, for an amount of approximately 9 billion euros, in order to "

create the world champion of ecological transformation

”, after months of financial and media battles.

To read also Bertille Bayart: "

Veolia-Suez: knowing how to end a war


The subscription price for the capital increase, in cash and with maintenance of preferential rights for Veolia shareholders, was set at 22.70 euros per new share, ie a "

discount of 19.1% compared to the theoretical value of the ex-right share based on the closing price

”of the share on Tuesday, Veolia said in a



The subscription period for the new shares will extend from September 21 to October 1 and the results of the capital increase will be communicated on October 6 after the close of the stock market.

The listing period for preferential subscription rights will last from Friday to September 29.

This capital increase will "

strengthen the prospects of the new group and accelerate its development at a time when environmental concerns have never been so strong,

" said Antoine Frérot, CEO of Veolia, quoted in the press release. This transaction "

is part of a global financing plan also including the expected proceeds from the sale of the new Suez to the Consortium of investors made up of Meridiam, GIP and CDC / CNP Assurances for an enterprise value of 10.4 billion d. 'euros

', is it specified in the text. The public takeover bid must be finalized by “

the end of the year

”, in particular pending the authorization procedures of the competition authorities,adds the group.

Source: lefigaro

All business articles on 2021-09-16

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