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Investing.com -- Shares of Veolia (EPA:VIE) climbed 1.5% today following the announcement that Criteria Caixa, the investment arm of the la Caixa Foundation, intends to acquire a 5% equity stake in the environmental services company.
The move is seen as a positive step towards reinforcing Criteria Caixa’s diversified investment portfolio and marks a significant moment in its strategic plan for the years 2025 to 2030.
Criteria Caixa’s planned purchase, which is capped at 5.5% and comes with a commitment to hold the shares for a minimum of two years, also includes a proposal for board representation at Veolia’s next General Shareholder Meeting.
This development is expected to support Veolia’s strategic direction, governance, and independence, as well as contribute to the company’s long-term success.
Barclays (LON:BARC) analysts commented on the transaction, stating, "The announcement that Criteria Caixa is planning to buy a 5% stake in Veolia should result in a share price outperformance of Veolia over the European utility sector SX6P today, as it adds another natural buyer of the shares next to possible benefits for Veolia’s major Spain presence."
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