Engie Pushes Back Deadline for Sale of Suez Stake to Veolia

(Bloomberg) — Engie SA pushed back the deadline for accepting Veolia Environnement SA’s 3.4 billion-euro ($4 billion) bid for most of its stake in Suez SA, though there were limited signs the delay would ease the tensions between the French corporate giants.



a sign on the side of a building: An Engie SA logo sits on display at the French energy giant’s Crigen gas, new energy and emerging technology research and development center in Stains, France, on Tuesday, Sept. 22, 2020. Veolia Environnement SA last month offered to buy 29.9% of Suez SA from French utility Engie for 2.9 billion euros ($3.4 billion), the first step to taking full control.


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An Engie SA logo sits on display at the French energy giant’s Crigen gas, new energy and emerging technology research and development center in Stains, France, on Tuesday, Sept. 22, 2020. Veolia Environnement SA last month offered to buy 29.9% of Suez SA from French utility Engie for 2.9 billion euros ($3.4 billion), the first step to taking full control.

The extension to Oct. 5 gives Veolia extra time to formalize talks with Suez, potentially allowing for a smoother acquisition. But Suez has shown scant inclination to engage in discussions, saying Thursday it backed an alternative approach from private equity firm Ardian SAS — one that

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IRCTC govt stake sale offer for sale OFS Indian Railway shares

Image Source : FILE

Govt plans to sell 15-20 per cent stake sale in IRCTC via OFS

The government plans to sell about 15-20 per cent stake in the Indian Railway Catering and Tourism Corp (IRCTC) through an offer for sale (OFS), and would like to complete the transaction in a minimum number of tranches. Last month, the Department of Investment and Public Asset Management (DIPAM) had invited bids from merchant bankers by September 10 for managing the sale in Indian Railway Catering and Tourism Corp (IRCTC).

However, it did not disclose the quantum of stake on offer in the Request for Proposal (RFP).

Following this, a pre-bid meeting was held on September 4 with potential bidders.

DIPAM has now posted its response to the queries raised by potential bidders on its website.

To a query on intended stake dilution percentage, DIPAM said, “The indicative percentage is 15 per cent

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