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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Suez SA    SEV   FR0010613471

SUEZ SA

(SEV)
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Suez Gets $13.66 Billion Approach from Ardian, GIP; Veolia to Continue Bid

01/18/2021 | 02:16am EST

By Mauro Orru

Private-equity investors Ardian and Global Infrastructure Partners have approached Suez SA with an 11.31 billion-euro ($13.66 billion) takeover offer as an alternative to a bid from Veolia Environnement SA.

French waste and water management company Suez said late Sunday that its board of directors unanimously backed a proposal from Ardian and Global Infrastructure Partners to buy Suez shares at EUR18 a share.

"The board of directors gives its unanimous support to the solution envisaged with the participation of responsible, long-term, top quality investors. It has mandated the group's CEO to continue to work to deliver it, including opening discussions with Veolia to reach a solution in line with Suez's corporate interest," Suez's Board of Directors Chairman Philippe Varin said.

Veolia previously acquired a 29.9% stake in Suez from energy company Engie SA, although the process has become mired in legal disputes, with Suez opposed to what it considers a hostile takeover by Veolia.

Private-equity firm Ardian had previously expressed interest in buying the stake from Engie.

Veolia said it stake in Suez isn't for sale and it considers hostile any proposal involving a sale or transfer that would thwart its efforts to take over Suez.

"I remain open to discussion with the board of directors of Suez within the framework of the project that I sent them last week," Veolia Chief Executive Antoine Frerot said.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

01-18-21 0215ET

Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE -0.73% 9.74 Real-time Quote.-23.61%
ENGIE -0.48% 11.435 Real-time Quote.-8.11%
ENVEA 0.00% 110.5 Real-time Quote.0.45%
SUEZ SA 0.11% 17.66 Real-time Quote.8.45%
VEOLIA ENVIRONNEMENT 1.57% 22.7 Real-time Quote.11.34%
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02/26VEOLIA ENVIRONNEMENT  : Suez Rejects Veolia's $13.7 Billion Takeover Offer as 'N..
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02/23OFFICIAL CORRECTION-UPDATE 1-Suez shareholder urges board renewal amid Veolia..
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02/23Suez shareholder wants some of French firm's board replaced
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02/23VEOLIA ENVIRONNEMENT  : French Court Says It Is Not Competent to Address Suez Ta..
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More news
Financials
Sales 2021 16 371 M 19 517 M 19 517 M
Net income 2021 370 M 441 M 441 M
Net Debt 2021 10 019 M 11 945 M 11 945 M
P/E ratio 2021 30,5x
Yield 2021 3,78%
Capitalization 11 050 M 13 308 M 13 173 M
EV / Sales 2021 1,29x
EV / Sales 2022 1,18x
Nbr of Employees 81 689
Free-Float 52,3%
Chart SUEZ SA
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Technical analysis trends SUEZ SA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 9
Average target price 16,38 €
Last Close Price 17,59 €
Spread / Highest target 2,33%
Spread / Average Target -6,87%
Spread / Lowest Target -40,3%
EPS Revisions
Managers and Directors
NameTitle
Bertrand Camus Chief Executive Officer & Director
Julian David Waldron Chief Financial Officer
Philippe Varin Chairman
Jean-Marc Boursier Chief Operating Officer
Delphine Ernotte Cunci Independent Director
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1st jan.Capitalization (M$)
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