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Paris, June 30, 2021 (GLOBE NEWSWIRE) – The investor consortium consists of Meridiam and Global Infrastructure Partners each holding 40% of the shares, and the Caisse des Dépôts Group, which owns CNP Assurances, holding 20% of the shares (including 8% CNP Assurances)1 submitted a binding final offer to Suez and Veolia to purchase the “New Suez” on June 29, 2021. The offer has been approved by the board of directors of Suez and Veolia on the same day, and the consortium. The transaction still needs to meet certain conditions, including the approval of Suez shareholders and the receipt of required regulatory approvals.
The offer confirms the terms of the memorandum of understanding signed by Suez, Veolia and the consortium on May 14, 2021, which includes:
• The consortium will acquire the scope of assets, companies and activities to form New Suez. The scope specifically includes all water and waste management activities of Suez in France, including R&D activities, construction (TI) activities, water activities of Suez in Italy, Czech Republic, Poland, Africa, Central Asia, India, Bangladesh, Sri Lanka, Australia, New Zealand, Asia (including municipal and industrial water activities in Shanghai and Macau)
• The next steps in the restructuring process, leading to the sale of the new SUEZ perimeter to the consortium
• 5 years of social commitment
• Employees reach the goal of 10% equity in 5-7 years
• The corporate value of New Suez is consistent with the value of the Suez Group implied by the quotation of 20.50 euros per share of Suez shares that Veolia has not yet held, with coupons attached
The new Suez will become a major player in the field of environmental services, with annual revenue of nearly 7 billion euros, and strong growth prospects and development capabilities in France and internationally. It will benefit from a strong industrial and technological foundation, and be supported by a stable and long-term shareholder base. With excellent operating records and a strong management team, the new SUEZ will continue to provide its end customers with the best quality service.
Thierry Déau, President and Founder of Meridiam, said: “This agreement represents a new step in the construction of New Suez. According to the signed agreement, the company will benefit from experts and recognized employees as well as strategies that are at the forefront of water conservancy and water conservancy. Status. Waste management departments in France and around the world. But our ambitions for this new Suez with all our partners did not split the ownership before including the employees’ ownership in the new Suez’s share capital. Instead, it was clear and powerful: Strengthen presence and…
The full story on Benzinga.com
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