The boss of Veolia invites the boss of Suez to come and discuss

Antoine Frérot, CEO of Veolia, on Wednesday invited the CEO of Suez, a rival company he wants to buy against the wishes of the person concerned, to come and discuss with him.

"I reiterate my invitation to Bertrand Camus to come and discuss this magnificent project with me," he said on BFM Business, adding that he called his Suez counterpart at the beginning of August, when Veolia was beginning to mature its plan.

"Bertrand Camus wanted to try to continue his journey alone, which I also understand. Today I reiterate my invitation to him to build this project together. There is a place for everyone in this project, for all employees, all the managers, all the top management of Suez ", assured the boss of the world number one in the treatment of water and waste.

An offer of 2.9 billion euros

Meeting urgently Monday the day after the announcement of Veolia's intentions, the board of directors of Suez expressed its disapproval, pointing to the "great uncertainties" of the initiative, in terms of employment, loss of opportunities, or even operational disruptions in an already difficult context.

Veolia presented Engie, the main shareholder of Suez, on Sunday with an offer of 2.9 billion euros, relating to the takeover of 29.9% of its rival.

If this transaction is successful - Engie has one month to decide - Veolia then intends to file a takeover bid with the other Suez shareholders.

Objective: "to build the super world champion" of ecological transformation, against a background of growing needs and increased competition, explains Antoine Frérot, who evokes "a strong project for France".

The government "vigilant" on employment

The government, through the voice of the Minister of the Economy Bruno Le Maire, warned that it would be vigilant on employment.

On Wednesday, Antoine Frérot indicated that he had presented his project in particular to Prime Minister Jean Castex.

"He listened to me and asked questions, he told me he thought it was a great project," he said.

In October 2019, Bertrand Camus, who took command of Suez a few months before, presented his strategic plan, aiming to make it number one in the sector by 2030. This plan notably provides for disposals and acquisitions, to allow it to concentrate its capital on projects with high added value.

On Wednesday, the group announced the sale, for 76 million Australian dollars (55 M USD), of 4.8% of its stake in AquaSure, which operates the desalination plant in the State of Victoria in Australia, of which it keeps 6.9%.

"This operation is in line with the Shaping Suez 2030 plan", the press release noted, recalling that "the group is concentrating its investments on projects with high added value allowing it to stand out".