Suez sells Australia recycling business
April 7, 2021- Share:
Paris-based water and waste disposal group Suez has agreed to sell its recycling and recovery business in Australia to Melbourne-based Cleanaway Waste Management for A$2.5 billion (around €1.6 billion). The deal, which values the unit at 12.9 times its reported EBITDA, could still be scuppered if, by May 5, French water company Veolia is successful in its ongoing hostile bid to take over Suez. Veolia bought 30% of Suez last year in the hope of absorbing the whole company.
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