Veolia Environment’s takeover of Suez.SA in France closely concerns the subsidiaries of these two groups in Africa.
Thus Lyonnaise des Eaux Casablanca (Lydec), a company listed on the Casablanca Stock Exchange, which has been distributing water in the Moroccan economic capital since 1997, has been taken over by Veolia. Indeed, according to a note from the Moroccan Capital Market Authority (AMMC), Veolia environnement declared that it indirectly crossed upwards, on January 18, 2022, the participation thresholds of 5%, 10%, 20%, 33 .33% and 50% in the capital of Lydec.
Following this operation, Veolia indirectly holds 4,080,000 Lydec shares representing 51% of the capital of the said company, specifies the AMMC. In the six months following the crossing of the aforementioned thresholds, Veolia Environnement declares that it plans to continue its purchases on the Lydec value, the same source reports.
It should be noted that in France, Veolia now holds 95.95% of the capital of Suez, the Autorité des marchés financiers announced on Thursday following the reopening of the takeover bid by Veolia on its former rival in the electricity sector. water and waste. As the 90% threshold was not reached at the end of the first phase of the takeover bid, which closed on January 7, Veolia is able to launch a
a public withdrawal offer (OPR) on the rest of the securities in circulation to recover them.
At the end of this mega merger at 13 billion euros, the Veolia-Suez group, with 230,000 employees, with a turnover of 37 billion euros, will control only 5% of the sector, in a context unconsolidated world. Very early to judge the financial impact of this marriage.
It should be noted that due to anti-trust laws, a new headquarters will be created and 39% owned by the French fund Meridiam, Velia’s financial partner in this operation, and 39% by the American GIP, with Caisse des dépôts. /CNP Assurances. Does this mean that Sen’Eau, a subsidiary of Suez in Senegal, will remain in this fold?
