Engie: Veolia's Offer for Suez Can't Be Accepted Under Proposed Terms
September 17 2020 - 10:42AM
Dow Jones News
By Giulia Petroni
Engie SA said Thursday that Veolia Environnement SA's offer for
its 29.9% stake in Suez SA can't be accepted under the proposed
terms.
The French energy company said the board has mandated Chairman
Jean-Pierre Clamadieu and interim Chief Executive Claire Waysand to
seek improved offer terms from Veolia. However, no alternative
proposal has been submitted to date, it said.
The chairman and interim CEO will study any alternative offer
that will be sent to Engie, the company added.
"The board will pay very close attention to the fair valuation
of this equity ownership, as well as to the strength of the
industrial project and the guarantees provided to all
stakeholders," Mr. Clamadieu said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 17, 2020 10:27 ET (14:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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