Veolia : A controlled deal but one which must be accepted
>Buy recommendation and € 24.0 target price maintained - Following the conference call to present Veolia’s offer to buy Engie's stake in Suez, we confirm our Buy recommendation on the share and our target price of € 24 on an unchanged basis by applying the historical average multiples over the 2000-2019 period to the 2020 estimates. The acquisition of Suez, beyond Engie's stake, opens up a new chapter in Veolia's investment case. While synergies are obviously at the h...Veolia Environnement provides environmental management services to public authorities, industrial and commercial services customers, and individuals worldwide. These services include the supply of water, the treatment and recovery of municipal or industrial effluent, waste collection, processing and recycling, the supply of heating and cooling services and the optimization of industrial processes. Co.'s business operations are conducted through three divisions, each specializing in a single business sector: Veolia Eau (Water), Veolia Energie (Dalkia, Energy Services) and Veolia Proprete (Environmental Services).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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