ENGIE’s Board of Directors welcomes the improved offer from VEOLIA but requests that VEOLIA extends the validity period of such offer until 5 October 2020

By ENGIE - 30 September 2020 - 21:12

ENGIE’s Board of Directors reviewed the new proposal made by VEOLIA for the acquisition of a 29.9% ownership stake in SUEZ held by ENGIE, with an expiry date of midnight tonight.


This offer brings important clarifications and improvements compared to the previous offer. The Board welcomes the additional commitments taken by VEOLIA, regarding its industrial project and guarantees provided on social matters in particular, as well as the offered price, which were part of the mandate granted by the Board on 17 September to its Chairman and the Interim Chief Executive Officer.


The Board therefore considered that this new offer is in line with its expectations in terms of price and social guarantees. Considering the importance of the transaction for all stakeholders, the Board decided to request that VEOLIA extends the validity period of its new offer until 5 October 2020 in order that VEOLIA formalizes its unconditional commitment not to launch a public tender offer which wouldn’t be friendly. 


ENGIE’s Chairman and Interim Chief Executive Officer will maintain their efforts to favor dialogue between both companies.