Bruno Le Maire detailed the government's recovery plan on September 3, 2020. -

Ludovic Marin / POOL / AFP

Will Veolia and Suez find common ground?

Sunday, Bruno Le Maire, the Minister of the Economy, solemnly called on the two groups "to resume their discussions in the coming hours in order to reach an amicable agreement" preserving the interests of each.

Intense discussions took place this weekend between the two groups, which engaged in a new pass of arms on Sunday by communiques.

"This progress shows that an agreement is possible between Veolia and Suez on the sale of Engie's assets in Suez in the coming hours," said Bruno Le Maire.

"Protect the interests of employees"

Veolia has offered 3.4 billion euros to buy 29.9% of the capital of Suez from Engie.

The energy group, in which the State is a 23.6% shareholder, must decide on Monday at the latest.

In an attempt to convince him, Veolia raised its offer on Wednesday and pledged Sunday not to launch a hostile takeover bid for Suez once it has acquired the shares of Engie, as well as to asset sales. additional.

"The position of the State is constant: we hope that Veolia and Suez find common ground and define an amicable agreement which is the only one capable of preserving the interests of employees and the industrial interests of the nation", recalled Bruno Le Maire.

The state has three seats on Engie's board of directors and can therefore influence the decision, but cannot exercise a veto.

Open letter from Arnaud Montebourg alerting to a "carving up" of Suez, press release from the Suez inter-union calling for a fight "until the withdrawal" of Veolia's offer, initiative of LREM deputies inviting Bruno Le Maire "to give time in time ”: the pressure is mounting on the State to delay in the face of a merger which raises fears of job cuts and a rise in the prices of water and waste resulting from a weakening of competition.

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  • energy

  • Engie

  • Merger

  • Bruno the Mayor

  • Suez

  • Veolia

  • Economy

  • Company