Suez and la Caixa move to secure control of Agbar

Agbar’s main shareholders are looking to eliminate the risk of a hostile takeover bid by seizing control of the company. It seems the deal is something of a fait accompli.

Suez and la Caixa, owners of 49.7% of Catalan-based Agbar, announced on 10 April their intention to launch a public tender offer for the remainder of Agbar’s outstanding share capital.

The move follows an “irrevocable agreement” with minority shareholder Torreal SA to buy its 6.656% stake, which effectively secures a controlling position for the two major shareholders even...

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