Suez Environnement purchases the 24.14% of Agbar that was held by Criteria CaixaHolding
Criteria CaixaHolding, in turn, will have up to a 7% share in Suez Environnement, making it its second largest shareholder
First thing this morning, before the stock markets opened, Suez Environnement and Criteria CaixaHolding each issued a statement announcing the agreement reached to proceed to a share exchange. According to the agreement, Suez Environnement will hold a 99.49% share in Agbar, with the remaining 0.51% in the hands of 1,691 shareholders.
Criteria CaixaHolding, organization fully controlled by the “la Caixa” Banking Foundation and which manages all ”la Caixa” shareholdings, will become the second largest shareholder in Suez Environnement, with representation on both its Board of Directors and its Strategy Committee. Criteria CaixaHolding will also acquire 15% of Aigües de Barcelona, the joint company created with Àrea Metropolitana de Barcelona (15%) to manage the complete water cycle in the Barcelona metropolitan area.
Following the signing of this binding agreement between the two companies, Suez Environnement will acquire Criteria CaixaHolding’s 24.14% share in Agbar, in exchange for 22 million newly issued shares in Suez Environnement, representing 4.1% of its capital and 298 million euros in cash.
Both companies see this agreement as the culmination of a long and prosperous relationship, stating that will create value for both parties and strengthen the shareholding structure, a testament to their desire for long-term collaboration.