SUEZ ENVIRONNEMENT (EPA:SEV) SUEZ notes that Veolia persists in its proposals that are contrary to the Group's corporate interest
Transparency directive : regulatory news
30/09/2020 13:01
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press release
Paris, September 30th, 2020
SUEZ notes that Veolia persists in its proposals that are contrary to the
Group's corporate interest
The SUEZ Board of Directors met this morning and noted that the proposals made
on this day by Veolia remain vague and that they do not guarantee the interests
of the shareholders and stakeholders that the Board is responsible for
defending.
The SUEZ Board of Directors expressed in its press release of September 29 the
prerequisites for a dialogue and reaffirmed its willingness to defend the
Group's shareholders and stakeholders. It will, in particular, put all the
means at its disposal to avoid a creeping takeover or de facto control by its
main competitor.
With regards to its shareholders, SUEZ notes that there is no guarantee that
they will benefit from a cash offer at the same price and conditions as Engie.
The cash offer referred to by the Chairman and CEO of Veolia since the press
release of August 30 is not included in the document published today. This
process creates a breach of equality in the treatment of the various
shareholders.
With regards to the men and women working for SUEZ, we highlight again that
Engie has refused the requests of the SUEZ staff representative bodies to
participate in the information and consultation process and note that no real
and lasting guarantee has been provided. The employment guarantees are
deceptive.
As far as customers, and especially local authorities, are concerned, all the
flaws in the industrial project already identified persist, particularly with
regards to competition in essential public services, especially in France. This
competition is currently ensured by the competition of two world leaders.
The Board is actively pursuing its work in order to enable the announcement, as
soon as possible, of a solution that will suit all Suez shareholders.
The SUEZ Board asks the Board of Engie and its shareholders not to decide on
the future of SUEZ under the conditions and timetable dictated by Veolia.
CONTACTS
Media
Isabelle Herrier Naufle
isabelle.herrier.naufle@suez.com
+33 6 83 54 89 62
Analysts & Investors
Mathilde Rodie / Cécile Combeau
+33 1 58 81 24 32 / +33 1 58 81 55 71
About SUEZ:
Since the end of the 19th century, SUEZ has built expertise aimed at helping
people to constantly improve their quality of life by protecting their health
and supporting economic growth. With an active presence on five continents,
SUEZ and its 90,000 employees strive to preserve our environment's natural
capital: water, soil, and air. SUEZ provides innovative and resilient solutions
in water management, waste recovery, site remediation and air treatment,
optimizing municipalities' and industries' resource management through "smart"
cities and improving their environmental and economic performance. The Group
delivers sanitation services to 64 million people and produces 7.1 billion m3
of drinking water. SUEZ is also a contributor to economic growth, with more
than 200,000 jobs created directly and indirectly on an annual basis, and a
provider of new resources, with 4.2 million tons of secondary raw materials
produced. By 2030, the Group is targeting 100% sustainable solutions, with a
positive impact on our environment, health and climate. SUEZ generated total
revenue of EUR18.0 billion in 2019.
Find out more about the SUEZ Group on the website & on social media
SUEZ
Head Office: Tour CB21 - 16, Place de l'Iris, 92040 Paris La Défense Cedex,
France - Tel: +33 (0)1 58 81 20 00 - www.suez.com
Limited Liability Company with a share capital of EUR2,513,450,316 - Siren
(French business administration number) 433 466 570 RCS Nanterre - VAT FR
76433 466 570