Veolia Says Not To Launch Hostile Bid For Suez

(RTTNews) - Veolia group said Sunday that it has unconditionally committed not to launch a hostile takeover bid following the sale of the shares held by Engie in Suez. Any takeover bid on Suez's remaining capital will require an approval from Suez's board.

Veolia said it provides the guarantee expressed by Engie, in addition to the price offered and the strong social commitments made by the Group, thus making possible the sale of the 29.9% of the capital that Engie holds in Suez.

Veolia has also committed to Philippe Varin, Chairman of the Board of Suez, to respond favorably to the request formulated by Suez to the public authorities to extend the scope of the assets sold to the buyer of Suez Eau France to international water assets for a total turnover of about 5 billion euros that include 2.2 billion euros for the French Water.