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 by Staff Writers Paris (AFP) Aug 30, 2020
The French environmental services group Veolia said Sunday it wants to buy 29.9 percent of rival Suez from energy company Engie to build a "world champion in ecological transformation". Veolia's offer, worth an estimated 2.9 billion euros ($3.5 billion), would leave Engie with a holding of just over two percent in Suez that it could sell later when Veolia makes a planned public offer for the remaining shares. "This historic opportunity will enable us to build the French world champion in ecological transformation," Veolia chairman and chief executive Antoine Frerot said in a statement. "This project is part of a friendly approach, as we share the same businesses, corporate culture and values with Suez," he added. All three companies are French and to overcome potential competition issues, Veolia said it would sell Suez's French water, engineering and research activities to Meridiam, a French infrastructure management company. Suez presented a plan last year to overtake Veolia as number one in France. On Sunday, it said only that it had taken note of the Veolia press release. "The approach of Veolia has not been solicited and has not been discussed at all with Suez," a statement said. "Suez will convene its board of directors shortly in order to study the operation as well as its contemplated impacts, in view of the interest of the company, its shareholders, its employees and all its stakeholders," it added. Engie said in a statement that it would study the offer over the coming weeks with a view to choosing a solution that was best for its shareholders. cho/jj/dw
In northeast Syria town, families say Turkey cut their water Hasakeh, Syria (AFP) Aug 25, 2020 Outside her home in northeast Syria, Sheikha Majid said her life had become an endless quest for fresh water, three weeks into the latest supply cut by Turkish forces. "I spend the whole time running after water trucks," the 43-year-old grandmother said, amid an ongoing outage - one of many in recent months - in Hasakeh, a city run by a semi-autonomous Kurdish administration. As coronavirus spreads across northeastern Syria, residents in Hasakeh have been caught up in spats between Turkish for ... read more
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