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    CWY   AU000000CWY3

CLEANAWAY WASTE MANAGEMENT LIMITED

(CWY)
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Schwarz set to win EU antitrust okay for Suez asset buy - sources

04/07/2021 | 09:20am EDT

(Adds the European Commission declines comment, Suez and Schwarz did not immediately respond to requests for comment)

BRUSSELS, April 7 (Reuters) - French waste and water management company Suez is set to get a green light from the European Union to sell its recycling business in four EU countries to Lidl-owner Schwarz, two people familiar with the matter said on Wednesday.

The deal comes as Suez battles a hostile takeover bid from rival Veolia, which has criticised the sale of assets it considers strategically important.

Suez announced in September the sale of its Recycling & Recovery operations in the Netherlands, Luxembourg, Germany and Poland to Schwarz as part of its 2030 strategic plan.

The deal does not include Suez's plastic recycling and hazardous waste treatment activities.

The EU competition enforcer, which is scheduled to decide on the deal by April 14, declined to comment. Suez and Schwarz, which also owns German retail chain Kaufland, did not immediately respond to requests for comment.

Schwarz, whose PreZero environmental division is making the acquisition, last month offered to sell assets to address the European Commission's competition concerns, another source had told Reuters, declining to provide details.

Earlier this month, Suez clinched a deal to sell its Australian recycling and recovery business to Australia's Cleanaway Waste Management, which also drew criticism from Veolia. (Reporting by Foo Yun Chee. Additional reporting by Gwenaelle Barzic in Paris and Matthias Inverardi in Duesseldorf. Editing by Mark Potter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CLEANAWAY WASTE MANAGEMENT LIMITED 0.00% 2.49 End-of-day quote.5.96%
SUEZ -0.03% 19.845 Real-time Quote.22.35%
VEOLIA ENVIRONNEMENT 1.68% 24.86 Real-time Quote.24.24%
All news about CLEANAWAY WASTE MANAGEMENT LIMITED
04/12Suez, Veolia Reach Agreement on $15.60 Billion Merger -- Update
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04/07Exclusive-Schwarz set to win EU antitrust okay for Suez asset buy - sources
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04/07Schwarz set to win EU antitrust okay for Suez asset buy - sources
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04/06Tech, travel stocks lift Australia shares to 1-1/2-month closing high
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04/05Australian shares track Wall Street higher ahead of RBA meeting
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04/05Australia's Cleanaway to buy Suez's local unit for $1.93 bln as takeover batt..
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03/04MARKET CHATTER : Suez Said to Be in Negotiations For Divestment of $2.4 Billion ..
MT
03/02CLEANAWAY WASTE MANAGEMENT LIMITED : Ex-dividend day for interim dividend
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02/18CLEANAWAY WASTE MANAGEMENT  : Fiscal H1 Profit Up; Raises Interim Dividend
MT
01/21MORGAN STANLEY  : rates CWY as Equal-weight
AQ
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Financials
Sales 2021 2 330 M 1 801 M 1 801 M
Net income 2021 160 M 124 M 124 M
Net Debt 2021 834 M 644 M 644 M
P/E ratio 2021 32,2x
Yield 2021 1,86%
Capitalization 5 128 M 3 965 M 3 964 M
EV / Sales 2021 2,56x
EV / Sales 2022 2,42x
Nbr of Employees 6 000
Free-Float 99,6%
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Technical analysis trends CLEANAWAY WASTE MANAGEMENT LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 2,57 AUD
Last Close Price 2,49 AUD
Spread / Highest target 32,5%
Spread / Average Target 3,07%
Spread / Lowest Target -21,7%
EPS Revisions
Managers and Directors
NameTitle
Paul Andrew Binfield Chief Financial Officer
Mark Peter Chellew Executive Chairman
Brendan Gill Chief Operating Officer
Raymond Maxwell Smith Independent Non-Executive Director
Terry A. Sinclair Independent Non-Executive Director
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