Veolia to own 95% of former rival Suez

– French waste and water management company Veolia said on Thursday that it would own 95.95% of rival Suez’ share capital as a result of the cash tender offer, according to Euronext Paris.

Veolia will proceed with a squeeze-out procedure on Suez shares that are not already owned by the group by February 18, the group said in a statement.

At the close of the squeeze-out, Suez shares will be delisted from Euronext Paris and Euronext Brussels, Veolia added.

The group said in January it would reopen the offer to allow shareholders who have not tendered their shares to do so under unchanged conditions.

(Reporting by Anait Miridzhanian; Editing by GV De Clercq)