Suez: in 'advanced' discussions in Australia
(CercleFinance.com) - On Thursday Suez confirmed that it is in "advanced" discussions to sell its Australian waste recycling and recovery business to Cleanaway.
The French environmental services group said it had reached a preliminary agreement on the value of the business, based on an enterprise value of around 2.5 billion Australian dollars (about 1.6 billion euros).
In its statement, Suez refers to a valuation that is well above the implied valuation of these businesses within the group and significantly above the multiple reflected in Veolia's current offer of 18 euros per share (cum dividend).
Suez and Cleanaway will now focus on structuring the transaction in such a way that it is compatible with the negotiation proposal made by Suez to Veolia last month, Suez added.
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The French environmental services group said it had reached a preliminary agreement on the value of the business, based on an enterprise value of around 2.5 billion Australian dollars (about 1.6 billion euros).
In its statement, Suez refers to a valuation that is well above the implied valuation of these businesses within the group and significantly above the multiple reflected in Veolia's current offer of 18 euros per share (cum dividend).
Suez and Cleanaway will now focus on structuring the transaction in such a way that it is compatible with the negotiation proposal made by Suez to Veolia last month, Suez added.
Copyright (c) 2021 CercleFinance.com. All rights reserved.