17 January 2021 Infrastructure France, Paris
Paris, January 17, 2021 – Investment companies Ardian and GIP, experts in the infrastructure sector, today submitted a letter of intent to the Suez Board of Directors.
In a friendly context between Suez and Veolia, and in the case of any event which does not dismantle Suez, the letter of intent paves the way for a global solution with various possible execution options, including an offer by investors to purchase Suez shares at a price of €18 per share, coupon attached. This proposal is subject in particular to the completion of confirmatory due diligence.
Through this letter, Ardian and GIP confirm their intention to support a quick, friendly and positive solution that strengthens the two great French champions of environmental services in the interest of all stakeholders.
About the partnership between Ardian and GIP
The consortium is made up of responsible investment companies that have significant financial resources, share common values, have a long-term commitment and benefit from an excellent international reputation as shareholders concerned about respecting social commitments and environmental issues.
Their respective skills are highly complementary: Ardian has a strong foothold in France, with GIP providing recognised international expertise. Together, they provide a stable shareholder base to support Suez’s development in France and abroad, with a constant concern for the public interest. Their respective teams have developed a close working relationship over several years in the context of joint investment projects.
About Ardian
Ardian is a French investment company and one of the world leaders in private equity with €88 billion under management and/or advisory in Europe, America and Asia. The company, which is majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance.
Through its commitment to sharing the value created with all stakeholders, Ardian participates in the growth of companies and economies around the world.
Since 2005, Ardian Infrastructure has developed solid industrial expertise in the field of infrastructure (energy distribution networks, renewable energies, road and rail infrastructure, airports, social infrastructure, etc.). In 15 years, the team has made 110 investments and currently manages more than €14 billion of assets in this field.
Ardian Infrastructure’s approach is to support companies in their transformation to improve the quality of service to users by relying on innovation and the digitalisation of operations. In the environment sector, Ardian Infrastructure has, among other things, been a shareholder alongside Suez de Sita Cornwall and Sita Northumberland in the United Kingdom.
About GIP
Global Infrastructure Partners (GIP) is an independent fund manager specialising in infrastructure investments and one of the world leaders in this sector. Founded in 2006, with offices in New York, London, Hong Kong, Mumbai and Sydney, GIP invests in the energy, transport and environmental services sectors. The airports, ports, rail networks and power plants operated by GIP provide essential services to tens of millions of users worldwide.
GIP is controlled and ultimately owned by its employees. GIP manages more than €58 billion on behalf of more than 400 institutional investors of 41 different nationalities, including many renowned European and French institutions. There are 38 companies in GIP’s equity portfolio with a cumulative annual turnover of approximately €34 billion and which employ more than 58,000 people. GIP has invested nearly €15 billion in European companies.
GIP’s investment approach is founded on the combination of its industrial expertise and best-in-class management practices. GIP focuses its efforts on reliability, safety, quality of service, investing in growth as well as operational excellence, notably through innovation and technology. Water and environmental services are one of the pillars of GIP’s expertise.
GIP adheres to the highest standards of responsible investment and is notably a signatory of the “Principles for Responsible Investment” promoted by the United Nations and also a founding member of the “One Planet Sovereign Wealth Funds” initiative. GIP is one of the world’s largest independent investors in renewable energy and its assets generate enough green electricity to power the equivalent of several million homes.
TOM JAMES