Veolia Increases Offer Price To Have Stakes In Suez

Veolia-Increases-Offer-Price-To-Have-Stakes-In-Suez

On Monday, the France based utility firm, Veolia, reported increasing its offer price to Engie, to buy a bulk stake in company’s meagre rival Suez by 30 September. Last month, Veolia offered Engie, which owns around 32% stake in Suez, $3.37 billion (2.9B euros) to buy a 29.9% stake.

The French utility giant aims to take full control of its rival, Suez, by gaining the stake and agreed to improve its offer to buy the 29.9% stake in Suez, according to the Veolia CEO Antoine Frerot.

The move came after Engie refused the Veolia’s initial offer but reported to consider the takeover at a higher price.

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