Suez Agrees to $1.9 Billion Australian Sale to Cleanaway

Bloomberg2021-04-06

(Bloomberg) -- Suez SA agreed to sell its Australian business to Cleanaway Waste Management Ltd., with completion conditional on further talks about its own takeover by Veolia Environnement SA. Suez ...

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nicoco
2021-04-06
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小赖赖
2021-04-06
小赖赖
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Under the terms, Suez can terminate the deal by May 6 if it gets taken over by Veolia, Cleanaway said in a filing.\nThe arrangement leaves room for Suez to maneuver its own fate in its seven-month battle to convince shareholders that Veolia’s takeover offer is too low. Veolia bought almost 30% of Suez in October with a plan to absorb the whole company and create a new global leader in the sector.\n“We’re continuing to seek a friendly, negotiated solution with Veolia” with the aim of finding a solution by April 20, Suez Chairman Philippe Varin said on a conference call Tuesday. The valuation of the Suez asset sales, including in Australia, show that Veolia’s takeover offer, which it has resolutely maintained since October, “isn’t sufficient,” he said.\nSuez on March 21 put forward a solution that would involve Veolia paying at least 20 euros ($23.63) per share -- 2 euros more than its offer -- and selling on over half of the company to Ardian SAS and Global Infrastructure Partners. 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