PARIS, Jan 7 (Reuters) - Waste and water management firm Veolia said on Thursday it had sent to the board of its rival Suez the offer proposal it intends to file for the 70.1% of the company’s capital it does not own.
Veolia bought a 29.9% chunk of Suez in October from utility Engie in a prelude to a takeover offer for the whole group that has been contested by Suez managers and led to legal challenges from both sides.
“The submission of this formal proposal to the board of directors of the Suez group is, once again, in line with Veolia’s desire to be perfectly transparent about its proposed project with Suez, and in line with all the announcements and all the commitments it has made public since Aug 30, 2020”, Veolia said in a statement. (Reporting by Benoit Van Overstraeten. Editing by Mark Potter)