Paris (AFP)
The CEO of Veolia rejected Tuesday the form of negotiation submitted by Suez, "which offers us to discuss with a gun to the head," he accused.
"The strategy of the board of directors of Suez is in no way intended to initiate a negotiation. It only aims to defeat our offer" to take over the company, affirmed the boss of Veolia Antoine Frérot, during an exchange organized by his group on the challenges of ecological transformation.
The number one in the water and waste sector, which has already acquired 29.9% of its rival from Engie, has launched a takeover bid on the remaining shares.
Faced with opposition from Suez, which warns of an industrial and social breakdown, Veolia proposes to maintain a Suez France, of which it would cede all national assets to the Méridiam fund.
But Suez management invokes the need for international assets, and has found investors through Ardian and GIP funds.
"The management of Suez asks us to buy the group at a very high price, and to sell more than half of the activities to two short-term investment funds, assets all over the world and among the most profitable. ceding half of Suez's assets is not compatible with my industrial plan to create a great champion, which involves bringing together as many activities and teams as possible, ”Antoine Frérot said on Tuesday.
"I add that, when we are offered to discuss by putting a gun to our temples, with the activation of a Dutch foundation to prevent the implementation of" remedies "that the anti-trust will take on water This is what I call a negotiation under blackmail. No, there is not a desire to start a real discussion with the proposal that has been made, "he added.
At the start of this battle, Suez set up a foundation under Dutch law intended to prevent the sale of its water assets, the heart of its business.
It also obtained a firm offer from Ardian – GIP at a price of 20 euros per share, against 18 euros offered by Veolia.
The consortium would take over France, but also the "Water and Technology" activities internationally.
In the absence of an amicable agreement, it would be up to the shareholders of Suez to arbitrate, on the occasion of their next general meeting, expected by the end of June.
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