Suez: agreement to sell R&R business in Australia
(CercleFinance.com) - Suez said on Monday that it has signed an agreement to sell its Recycling and Recovery (R&R) business in Australia to Cleanaway, for an enterprise value of 2.
52 billion Australian dollars (about 1.63 billion euros), representing an implied multiple of 12.9x its 2020 EBITDA.
"It specifically allows for the possibility of Veolia taking control of this asset, through a takeover offer, on the basis of SUEZ proposal to Veolia on March 21, 2021," the group said.
Suez adds that it continues to seek a friendly, negotiated solution with Veolia and leaves the door open for negotiations with it. To this end, this agreement is conditional and expressly provides that SUEZ may terminate it if, by 5 May 2021.
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52 billion Australian dollars (about 1.63 billion euros), representing an implied multiple of 12.9x its 2020 EBITDA.
"It specifically allows for the possibility of Veolia taking control of this asset, through a takeover offer, on the basis of SUEZ proposal to Veolia on March 21, 2021," the group said.
Suez adds that it continues to seek a friendly, negotiated solution with Veolia and leaves the door open for negotiations with it. To this end, this agreement is conditional and expressly provides that SUEZ may terminate it if, by 5 May 2021.
Copyright (c) 2021 CercleFinance.com. All rights reserved.