GROUP

ENGIE’s Board of Directors requests an improvement of the terms proposed by VEOLIA and is open to alternative offers

By ENGIE - 17 September 2020 - 15:25

ENGIE’s Board of Directors met today in order to study the proposal received from VEOLIA on August 30, regarding part of the equity stake owned in SUEZ. It considered that this offer cannot be accepted under its proposed terms.

 

 

The Board has decided to grant a mandate to Jean-Pierre Clamadieu, Chairman of the Board, and to Claire Waysand, interim Chief Executive Officer, to seek improved terms from VEOLIA, as well as further assurances with regards to the quality of the industrial project and the due care towards stakeholders.

 

The Board has also been informed of ongoing exchanges with SUEZ. It however noted that, to date, no alternative proposal has been submitted to ENGIE. The Board has instructed its Chairman and the Group interim Chief Executive Officer to continue such exchanges and to study any alternative offer to be sent to ENGIE in the next few days.

 

Jean-Pierre Clamadieu, Chairman of the Board, declared : “The potential sale of all or part of our equity ownership in SUEZ is consistent with the acceleration of our development in infrastructure and renewable energies. 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.

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