Australia’s Cleanaway to acquire Suez’s local recovery, recycling unit for $1.93b

Photo: Nareeta Martin / Unsplash

Australia’s Cleanaway Waste Management said on Tuesday that it would acquire the local recycling and recovery business of French waste and water management firm Suez for A$2.52 billion ($1.93 billion).

The business includes several infrastructure assets, a workforce of more than 2,000 employees and a fleet of more than 1,000 vehicles, Cleanaway said. It had been in talks with Suez for buying its local assets since March.

However, hurdles for the deal remain as Paris-based Suez is involved in a takeover tussle with domestic rival Veolia.

Suez in February rejected an 11.3 billion euros ($13.35 billion) takeover bid by Veolia, and since then, the two companies are struggling to agree how to carve up Suez’s business and have clashed in court over it.

Suez may terminate the acquisition by May 6 in case it reaches a deal in principle for a takeover of the firm by Veolia, Melbourne-based Cleanaway said.

In case a superior offer for the assets is made and not matched by Cleanway, then Suez may terminate the deal earlier.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.