Company News Summary
Cleanaway Waste Management Advises on the Proposed Acquisition of Suez's Australian Recycling and Recovery Business
06 Apr 2021 | 08:30:00 | Associate analysts | Increase | Decrease | 
Original announcement: Suez Australia Recycling and Recovery Business
Cleanaway Waste Management announced that it has entered into an agreement on 5 April 2021 with Suez to acquire Suez R&R Australia (the Suez R&R Australia Acquisition) for $2.52bn. The Suez R&R Australia Acquisition is subject to finance on terms satisfactory to Company and various other conditions. In addition, as Suez is subject to a tender offer by Veolia Environnement (Veolia) filed on 8 February 2021, the Company and Suez have agreed that Suez may terminate the Suez R&R Australia Acquisition by 6 May 2021 if there is an announcement of an agreement in principle for a takeover of (or other qualifying proposal in relation to) Suez, and by 26 April 2021 if a superior offer for Suez R&R Australia is made and not matched by Company.
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