Macquarie nears $2.5 billion deal in UK waste business in Suez, according to Bloomberg

The logo of Macquarie Group, Australia’s largest investment bank, adorns the reception area desk at its headquarters in Sydney, Australia, October 28, 2016. REUTERS/David Gray/File Photo

(Reuters) – French waste and water management company Veolia Environnement will sell Suez’s UK waste business to Australia’s Macquarie Group (MQG.AX) for around €2.5 billion ($2.5 billion) Bloomberg News reported that the company is nearing a deal to do so. Sunday.

The deal, which aims to settle antitrust concerns, could be announced as early as Monday, the report added, citing people familiar with the matter. (https://bloom.bg/3p1Sg2o)

According to Bloomberg, a group of investors led by Meridium SAS and Global Infrastructure Partners has acquired Suez’s operations in France and several other countries, and will sell Suez’s UK shares to match the prices offered by Macquarie. I have the right to present the property.

In June this year, Veolia was proposing to sell former rival Suez’s UK waste business after the UK’s Competition and Markets Authority (CMA) objected to the Veolia-Suez merger. Stated.

Last December, Veolia and Suez won EU antitrust approval for a €13 billion ($14.7 billion) partnership. This included months of controversy, including legal action and a move by Suez to isolate the French water business from his Veolia, but it was later abandoned after the company reached an agreement. .read more

The deal was subsequently completed on January 7th and Veolia controls 86% of Suez.

Macquarie, Veolia and Suez did not immediately respond to Reuters’ request for comment.

($1 = 0.9830 Euro)

Reported by Jaiveer Singh Shekawat. Additional reporting by his Jahnavi Nidumolu of Bengaluru. Edited by Stephen Coates

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