Trade Now

Capital at risk Advertisement
Share Name Share Symbol Market Type
Macquarie Group Limited ASX:MQG Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -7.92 -4.95% 152.20 152.70 153.29 157.91 152.10 157.57 1,925,648 09:50:01

Veolia Agrees to Sell Suez's UK Waste Business to Macquarie for $2.4 Billion -- Update

08/08/2022 5:01pm

Dow Jones News


Macquarie (ASX:MQG)
Historical Stock Chart


From Aug 2022 to Oct 2022

Click Here for more Macquarie Charts.
   By Ed Frankl and Cristina Roca 
 

Veolia Environnement SA said Monday that it will sell Suez's U.K. waste business to Macquarie Group Ltd. in a 2.4 billion-euro ($2.44 billion) deal.

The French utility said in June it would sell the business to satisfy the U.K.'s antitrust watchdog--the Competition and Markets Authority--which had expressed concerns over the harming of competition in the supply of water- and waste-management services in the country.

The sale proceeds represent around 17 times 2021 normalized earnings before interest, taxes, depreciation, and amortization, Veolia said.

The deal brings antitrust divestments related to Veolia's takeover of Suez to around EUR3.4 billion.

The new, standalone Suez--housing a number of Suez businesses that were sold to satisfy the EU's competition concerns on the Veolia-Suez merger--said Monday that it will study the Veolia-Macquarie deal and decide whether to exercise its right of first refusal over the U.K. waste business.

"Upon receipt of the notification by Veolia, Suez will have the right within a 30 business days period to acquire those assets from Veolia with terms and conditions equivalent to the ones proposed by Macquarie," it said.

The new Suez entity is owned by a consortium of investors composed of Meridiam, GIP, Caisse des Depots et Consignations and CNP Assurances.

 

Write to Ed Frankl at edward.frankl@dowjones.com and Cristina Roca

 

(END) Dow Jones Newswires

August 08, 2022 11:46 ET (15:46 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

1 Year Macquarie Chart

1 Year Macquarie Chart

1 Month Macquarie Chart

1 Month Macquarie Chart
ADVFN Advertorial
Your Recent History
ASX
MQG
Macquarie
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221001 17:17:23