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Suez to Repurchase Former U.K. Waste Management Unit - Bloomberg

Investing.com
·1-min read

By Scott Kanowsky

Investing.com -- Suez is set to repurchase its former U.K. waste management business from France's Veolia Environnement VE SA (EPA:VIE) for around €2.3B, Bloomberg reported citing people familiar with the matter.

The move will reportedly see Suez, which is made up of entities Veolia was forced to divest to assuage antitrust concerns following its acquisition of the utility firm in January, match an offer from Australian financial services group Macquarie (OTC:MQBKY).

Suez's owners, including asset manager Meridiam SAS and investment fund Global Infrastructure Partners, gave the company the go-ahead to trigger its right to refuse the Macquarie bid in order to take over the British operations, the people said.

The deal could be announced as soon as Wednesday, according to Bloomberg.

Shares in Veolia were trading in the green after the release of the report.

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