Suez Says Veolia's Stake Purchase Remains Suspended
By Mauro Orru
Suez SA said Tuesday that its workers' unions signed an
agreement whereby employee consultations should take place by the
end of May 2021 to unlock a court-ordered suspension of Veolia
Environnement SA's purchase of a stake in Suez.
The French waste-management company said on Nov. 19 that the
Paris Court of Appeal confirmed a decision suspending Veolia's
acquisition of a 29.9% stake in Suez from Engie SA because no
committee consultation had been completed.
Veolia had previously confirmed that it planned to make a full
takeover bid for Suez, which also remains on hold pending
consultations with 99 social and economic committees.
Suez said Tuesday that the court had once again confirmed the
Veolia didn't immediately respond to a request for comment.
Write to Mauro Orru at firstname.lastname@example.org; @MauroOrru94
(END) Dow Jones Newswires
December 08, 2020 06:38 ET (11:38 GMT)
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