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Suez: could sell its Australian operations

(CercleFinance.com) - Suez is reportedly in advanced talks to sell its Australian operations to Cleanaway Waste Management according to people interviewed by Bloomberg.


The business, which involves waste treatment assets in Australia, would be worth about 2 billion euros (2.4 billion dollars), one of those interviewed told Bloomberg.

Negotiations are underway and could be further delayed or even halted, the interviewees said.

There is no certainty that discussions will lead to a deal, the Sydney stock exchange-listed company said in a statement on Thursday, Bloomberg reported.

A deal could enable Suez to reduce its debt and invest more in new technologies, which could slightly strengthen its hand in the battle against Veolia, broker Aurel BCG said this morning.

Meanwhile, Veolia said that it would oppose the sale of Suez's strategic assets, in particular its waste treatment activities in Australia.


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