April 13 (Reuters) - Cleanaway Waste Management Ltd (CWY) :
- UPDATE REGARDING ACQUISITION OF SUEZ'S AUSTRALIAN RECYCLING AND RECOVERY BUSINESS
- INFORMED BY SUEZ THAT IT HAS REACHED AN IN‐PRINCIPLE AGREEMENT WITH VEOLIA ENVIRONNEMENT S.A. FOR A TAKEOVER
- WILL ACQUIRE A PORTFOLIO OF STRATEGIC POST COLLECTION ASSETS IN SYDNEY.
- ASSETS COMPRISE 2 LANDFILLS AND 5 TRANSFER STATIONS AND WILL BE ACQUIRED FOR $501 MILLION
- EXPECTS SUEZ R&R ACQUISITION WILL BE TERMINATED ON, OR PRIOR TO 6 MAY, AND SYDNEY ASSETS ACQUISITION WILL PROCEED
- BASED ON EXPECTED TIMELINE FOR TAKEOVER OF SUEZ BY VEOLIA, SYDNEY ASSETS ACQUISITION EXPECTED TO COMPLETE IN Q2 OF CY22
- SUEZ HAS ANNOUNCED THAT IN‐PRINCIPLE AGREEMENT PROVIDES FOR SUSPENSION OF ONGOING LEGAL PROCEEDINGS
- WILL PROVIDE FURTHER INFO ON PROPOSED FUNDING OF ACQUISITION IN DUE COURSE
News: CWY Cleanaway Updates On Acquisition Of Suez's Australian Assets
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