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February 11, 2021

Latest court decision in favor of Veolia: Paris Court of Appeal dismisses Suez and upholds Veolia's rights

The validity of Veolia's scheme to acquire Suez group is confirmed today. Since February 3, Veolia has seen its positions upheld on several occasions.

Paris’s Court of Appeal confirms the decision of the French Stock Exchange Authority (AMF) on September 24, 2020, which considered Veolia was not in a pre-offer period as of August 30, 2020, as alleged by Suez. As a consequence, Veolia could validly acquire, on October 5, 2020, 29.9% of the share capital of Suez held by Engie. This acquisition has paved the way for a tender offer for the remainder of the capital that Veolia does not hold.

Veolia recovered its shareholder rights on February 3, 2021 and filed a tender offer on February 8 for the entire share capital of Suez in order to complete the merger between the two groups.

Click here to view the original press release.