Suez SA along with Royal Bafokeng Holdings (Pty) Limited and The Ideas Managed Fund managed by African Infrastructure Investment Managers (Pty) Ltd. signed a binding agreement to acquire Enviroserv Waste Management (Pty) Ltd. on June 8, 2022. The shareholdings for the acquisition is SUEZ 51%, RBH 24.5% and AIIM's IDEAS Managed Fund 24.5%. The transaction is subject to customary conditions precedent including the authorization of the South African antitrust authorities. Quercus Corporate Finance acted as a financial advisor to Enviroserv Waste Management (Pty) Ltd. As on June 9, 2022, Local antitrust authorities approved the transaction.Rand Merchant Bank acted as financial advisor to Enviroserv Waste Management (Pty).

Suez SA along with Royal Bafokeng Holdings (Pty) Limited and The Ideas Managed Fund managed by African Infrastructure Investment Managers (Pty) Ltd. completed the acquisition of Enviroserv Waste Management (Pty) Ltd. on September 30, 2022. The purchase price for this acquisition was €71.6 million.