Suez: agrees to sell its stake in Essal
(CercleFinance.com) - On Friday Suez announced that it has reached an agreement to sell its 53.
51% stake in Essal.
"SUEZ, through its subsidiary Aguas Andinas S.A., has agreed with Algonquin Power & Utilities Corp (“APUC”) to dispose its entire stake of 53.51% in Empresa de Servicios Sanitarios de Los Lagos S.A. (“ESSAL”) as part of a takeover bid. The total enterprise value implied by the takeover bid amounts to US$ c.295m," it said.
"This disposal is in line with Shaping SUEZ 2030 strategic plan whereby the Group is redirecting capital around businesses fitting its selective growth strategy".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
51% stake in Essal.
"SUEZ, through its subsidiary Aguas Andinas S.A., has agreed with Algonquin Power & Utilities Corp (“APUC”) to dispose its entire stake of 53.51% in Empresa de Servicios Sanitarios de Los Lagos S.A. (“ESSAL”) as part of a takeover bid. The total enterprise value implied by the takeover bid amounts to US$ c.295m," it said.
"This disposal is in line with Shaping SUEZ 2030 strategic plan whereby the Group is redirecting capital around businesses fitting its selective growth strategy".
Copyright (c) 2020 CercleFinance.com. All rights reserved.