About: http://data.cimple.eu/news-article/9a88b39d4892a298beccee59074bba145acc65f6d73b4937fff91a1c

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About: http://data.cimple.eu/news-article/9a88b39d4892a298beccee59074bba145acc65f6d73b4937fff91a1c Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	French conglomerate Veolia and its rival Suez announced Monday they had agreed preliminary terms of a merger to create a global champion in water services and waste management. After months of waging a bitter battle in the media and the courts, Veolia finally won over Suez with an offer of 20.50 euros per share, up from its original offer of 18 euros. In a statement the companies said a shift of assets would create a Veolia with 37 billion euros in annual revenue to move forward with the company's "plan to create a global champion of ecological transformation". The company wants to become a global leader in helping firms and cities reduce their environmental impact, including by recycling treating waste and reducing the use of resources. The battle between the two companies was primarily over what would happen to Suez in the tie-up. The preliminary deal, which the two sides aim to finalise by next month, would create a new Suez that would include its solid waste and municipal water activities in France, plus water contracts in Italy, Africa, China and Australia. The statement said the firm with 7 billion euros in annual revenue would be coherent and have real chances for growth. The head of Suez's work council, Franck Reinhold von Essen, said labour representatives had not been consulted on the terms of the preliminary deal but that the "new Suez doesn't have the critical mass that would allow it to ensure jobs through growth". Veolia already bought 29.9 percent of Suez's capital in October, and the price announced Monday values the company at around 13 billion euros. Share prices in both companies jumped higher following the announcement, with Suez gaining 7.7 and Veolia rising 8.6 percent. The blue-chip CAC 40 index in Paris was flat in midday trading. mch/rl/mjs
schema:headline	French water and waste companies agree to mega-merger
schema:mentions	The Statement (film) Critical mass Media conglomerate Recycling Africa Italy Paris Australia France China Essen family Works council Suez Environnement Veolia Waste management Master of Surgery CAC 40
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-12 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	73 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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