Suez: sells several assets in Sydey to Cleanaway group

(CercleFinance.com) - The Australian group Cleanaway said on Tuesday that it will acquire a set of strategic assets belonging to Suez in the Sydney area for 501 million dollars.


Cleanaway says that the scope of the deal includes two landfills for inert and biodegradable waste located in the greater Sydney basin of Australia's largest city by population, as well as five waste transfer centres.

In 2020, these assets generated 193.1 million dollars in revenue with a normalised operating profit (EBITDA) of 72.9 million dollars.

Under the terms of the merger agreement reached with Veolia yesterday, Suez agreed to terminate the agreements made earlier this month regarding the sale of some of its Australian operations to Cleanaway.

The sale of the Sydney-based assets is expected to be completed in the second quarter of 2022.


Copyright (c) 2021 CercleFinance.com. All rights reserved.