Veolia Won't Extend Offer Deadline for Engie's Stake in Suez

   By Mauro Orru

Veolia Environnement SA's Chief Executive Antoine Frerot told France's National Assembly on Wednesday that he wouldn't extend the deadline for Veolia's offer to acquire Engie SA's stake in Suez SA, currently set for Sept. 30.

Veolia offered to buy a 29.9% stake in Suez from Engie for 2.91 billion euros ($3.41 billion) as a step toward a potential takeover.

However, Suez said Veolia's offer raised a number of concerns, ranging from employment, water treatment and distribution to lost opportunities and operational disruption.

Suez Chairman Philippe Varin rejected the Sept. 30 deadline set by Veolia during a hearing at the National Assembly on Wednesday, adding that Suez needed more time to present alternative proposals with regards to Engie's stake.

This story was translated in whole or in part from a French-language version initially published by L'Agefi-Dow Jones.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

September 23, 2020 08:07 ET (12:07 GMT)

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