Paris (AFP)

The president of Engie Jean-Pierre Clamadieu greeted Tuesday an industrial project "solid" of Veolia, which wishes to buy back its shares in Suez, estimating that the latter did not propose "anything concrete".

"Are we in a hurry? The answer is no, but what is putting the pressure on time? We have an offer that expires on September 30, tomorrow!" He told MPs who called it auditioned, while Veolia set Wednesday as the expiry date of its takeover offer.

"If this offer expires, we don't have any more. So do you suggest that I place a bet that there might be another one (later, editor's note)? It's an extremely difficult decision for the board We are releasing the prey for the shadows, "added Mr. Clamadieu.

"If the Veolia offer expires tomorrow, the price of Suez will drop back to where it was before: 12 euros. Our stake will have lost a billion euros in value. Is this a risk that we must take? we had a second offer, the situation would be different, "he said, noting that the response from Engie's board" will also "depend" on the new price offered by Veolia.

"Now, if the efforts to renew the dialogue (between Suez and Veolia) lead to Veolia giving us a week, 15 days, what do I know, we have no desire to conclude in a hurry," he said. -he adds.

"My disappointment is that over the past four weeks we have not seen a second offer being formed. We have seen the leaders of Suez very active but I would say rather on the media front," said the leader. .

“Unfortunately nothing concrete has happened” from Suez, he regretted.

Suez has been fighting for its independence since the end of August, since its main shareholder, Engie, was offered by Veolia to sell it 29.9% of shares for 2.9 billion euros (15 euros per share).

"During our last exchange with (the president of Suez) Philipe Varin, Thursday last week, he told us + no I'm sorry we have nothing + for a lot of reasons, he thinks that the environment of the moment does not does not allow him to build an offer calmly, "added Mr. Clamadieu.

According to him, Mr. Varin said he needed three months.

The chairman of Engie also strongly criticized Suez's decision to place its Eau France activity under the hat of a foundation intended to complicate any disposal project.

This "surprised us a lot because we are a little outside the + playbook + (scenario) of the OPA in a civilized country", he judged.

"The fact of putting the key to assets which are said to be strategic and important for the country in the hands of an opaque Dutch foundation, of which we do not know who will lead it (...). All this , between us, seems to us to be out of the normal business relationship between a company and its shareholders, "he said.

The president of Engie, on the other hand, welcomed Veolia's offer, which its CEO Antoine Frérot promised to improve financially before Wednesday.

"We are now convinced that the industrial project is solid, that Veolia is ready to provide guarantees in terms of employment that satisfy us," said Mr. Clamadieu.

On the other hand on the price, "we have not, as I speak, received a new offer".

Engie holds its board of directors on Wednesday afternoon.

© 2020 AFP