Veolia to improve its offer for stake in Suez by Sept. 30

Veolia last month offered $3.37bln for a 29.9% stake in Suez

  
Company stock price information, including LafargeHolcim Ltd, is displayed on screens as they hang above the Paris stock exchange, operated by Euronext NV, in La Defense business district in Paris, France, December 14, 2016. Image for illustrative purposes.

Company stock price information, including LafargeHolcim Ltd, is displayed on screens as they hang above the Paris stock exchange, operated by Euronext NV, in La Defense business district in Paris, France, December 14, 2016. Image for illustrative purposes.

REUTERS/Benoit Tessier

PARIS - French utility group Veolia said on Monday it would improve its offer to buy the bulk of Engie's stake in smaller rival Suez by Sept. 30.

Veolia last month offered 2.9 billion euros ($3.37 billion) for a 29.9% stake in Suez owned by Engie, with a view to subsequently taking full control of Suez by buying up more shares.

Engie, which owns almost 32% of Suez, rejected Veolia's initial advance but has said it would consider a higher offer.

Veolia's CEO Antoine Frerot said on Friday that the company would increase its offer to buy a 29.9% stake in Suez and had the capacity to do so. 

($1 = 0.8596 euros)

(Reporting by Matthieu Protard; Editing by Kim Coghill) ((matthieu.protard@thomsonreuters.com; +33-1-49495381;))

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