Two investment companies have made a takeover bid for the French utility company Suez. It appears to be the result of a takeover battle around Suez, which is also a target of rival Veolia. The French Veolia already has a major interest in Suez and wants to take over the entire company.

The investors Ardian and Global Infrastructure Partners (GIP) have now made a bid for Suez of EUR 11.3 billion, or EUR 18 per share. Veolia owns 29.9% of Suez and wants to retain the rest of the company for 18 euros per share. Suez opposes this and speaks of a hostile rapprochement by Veolia. The two companies are active in, for example, water treatment and waste treatment. Going together would create a global player in that area.

Ardian and GIP say they want to talk to Veolia, which in turn has indicated that they do not want to sell the interest in Suez. Veolia took over that interest in October from the French energy group Engie. The French authorities have said that Suez and Veolia should talk in a friendly way.

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