Veolia agrees sale of Suez's British waste activities to Macquarie

|
|

The waste management business in the UK was the last major part of the French environmental group Suez whose future was still in limbo after the takeover by competitor Veolia. On Monday, Veolia has announced the signing of a sales agreement for Suez's UK waste operations. The disposal "addresses the main concerns of the UK competition authority", Veolia said.

The group announced "the execution of a unilateral put agreement whereby Macquarie Asset Management irrevocably undertakes to acquire 100 per cent of the share capital of Suez Recycling and Recovery UK Group, regrouping Suez waste activities in the UK". The sale proceeds will amount to about €2.4bn, according to Veolia.

However, the transaction is still subject to approval by the UK's Competition and Markets Authority (CMA) and to the right of first refusal granted by Veolia to the "New Suez" last year....

Read more

You can only use this article with a valid subscription and registration. Registered subscribers can access all articles after entering their user name and password.
- Ad -

- Ad -