The draft recommendation drawn up by the special committee made was approved in its entirety by Electrabel’s board.
Following the approval, Suez submitted a draft proposal to the European Banking, Finance & Insurance Commission for a public offer to acquire all of the Electrabel shares not already held directly or indirectly by it.
Suez currently holds 98.62% of Electrabel’s shares as a result of a combined cash plus shares offer made in 2005.
