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BRIEF-Suez: sale agreement with Cleanaway for Recycling and Recovery activities in Australia

Published 06/04/2021, 08:36 am
Updated 06/04/2021, 08:42 am
© Reuters.
WM
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April 6 (Reuters) - Suez/Cleanaway/Veolia:

* SUEZ has signed, on April 5th, 2021, a sale agreement for its Recycling and Recovery business in Australia to Cleanaway Waste Management (NYSE:WM) Limited (Cleanaway).

* This agreement is fully in line with the SUEZ 2030 strategic plan.

* It specifically allows for the possibility of Veolia taking control of this asset, through a takeover offer, on the basis of SUEZ proposal to Veolia on March 21, 2021, or through a direct purchase of the Australian R&R activities.

* Under the agreement, in certain circumstances, a selection of landfill and transfer station assets in the Sydney area would still be sold to Cleanaway.

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