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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Veolia Environnement    VIE   FR0000124141

VEOLIA ENVIRONNEMENT

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Bailiffs Seize Documents From Veolia, Engie as Suez Seeks Deal Transparency

11/26/2020 | 06:35am EST

By Olivier Pinaud

Bailiffs on Thursday seized documents from the offices of Veolia Environnement SA, Engie SA and investment firm Meridiam as part of a court order requested by Suez SA, according to a person familiar with the matter.

French waste-and-water-management company Suez requested the order to obtain transparency into Veolia's purchase of a 29.9% stake in Suez from energy company Engie. The order was granted by a commercial court in Nanterre, outside Paris.

In addition to Veolia and Engie, Meridiam is involved as the potential buyer of Suez's water-activities arm, in order to address antitrust issues.

Veolia, Engie and Meridiam have the right to request a counter-judgment to the court order, in which case the documents seized Thursday would be held pending further legal developments, according to French law. The three companies declined to comment.

The companies have been involved in a protracted dispute over Veolia's purchase of a stake in Suez, which has characterized the move as hostile. Last week, a French court of appeal confirmed an earlier decision suspending the effects of the stake acquisition, pending the completion of consultations with Suez's social and employee committees.

This story was translated in whole or in part from a French-language version initially published by L'Agefi-Dow Jones.

Write to at Olivier Pinaud at opinaud@agefi.fr

(END) Dow Jones Newswires

11-26-20 0634ET

Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE -2.79% 10.45 Real-time Quote.-16.63%
ENGIE -2.00% 12.73 Real-time Quote.3.75%
ENVEA 0.00% 110 Real-time Quote.0.00%
SUEZ SA -1.02% 17.055 Real-time Quote.6.23%
VEOLIA ENVIRONNEMENT -1.31% 21.88 Real-time Quote.10.79%
All news about VEOLIA ENVIRONNEMENT
01:23aVeolia to Legally Oppose Sale of Suez Strategic Assets
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01/26VEOLIA ENVIRONNEMENT : Will Oppose Any Sale of Suez Strategic Assets Opposing It..
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01/26VEOLIA ENVIRONNEMENT : PR - Veolia will oppose any sale of Suez strategic assets..
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01/25SUEZ : Veolia's target Suez says second half revenue, profits to exceed expectat..
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01/18Veolia CEO wants to talk with Suez as government favours friendly solution
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01/18VEOLIA ENVIRONNEMENT : PR - Veolia will not sell its 29.9%
PU
01/18Veolia CEO wants to talk with Suez as government favours friendly solution
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01/18European stocks end higher as Stellantis, luxury stocks jump
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01/18Suez shares bolstered as funds propose alternative to Veolia bid
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01/18VEOLIA ENVIRONNEMENT : Paris Court Declares No Jurisdiction Over Consultation Pr..
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More news
Financials
Sales 2020 25 947 M 31 396 M 31 396 M
Net income 2020 365 M 442 M 442 M
Net Debt 2020 11 191 M 13 541 M 13 541 M
P/E ratio 2020 28,6x
Yield 2020 3,21%
Capitalization 12 543 M 15 256 M 15 177 M
EV / Sales 2020 0,91x
EV / Sales 2021 0,87x
Nbr of Employees 171 212
Free-Float 95,5%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 23,94 €
Last Close Price 22,17 €
Spread / Highest target 39,4%
Spread / Average Target 7,96%
Spread / Lowest Target -16,6%
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Managers and Directors
NameTitle
Antoine Frérot Chairman & Chief Executive Officer
Estelle Karine Brachlianoff Chief Operating Officer
Claude Olivier Francois Laruelle Chief Financial Officer
Christophe Nebon Director-Technical & Performance
Didier Bove CIO, Senior VP-Information Systems & Technology