Suez could pursue more deals in Australia following SembSita transaction
Suez, the France-based waste and water business, could look for additional deals in Australia, the Australian Financial Review reported. The paper noted that Suez yesterday bought Singapore’s Sembcorp out of the SembSita Pacific joint venture for AUD 485m (USD 349m). Sembcorp held 40% of the Australian waste management entity.
The news report cited Suez managing director Jean-Louis Chaussade as saying that following the deal Suez would still have the financial capacity to pursue new opportunities.
The item noted that Chaussade said in March that Suez is targeting acquisitions around the word and considered Australia an attractive region. At the time Chaussade noted that the business had between EUR 600m and EUR 700m in additional financial capacity.
The paper noted that the SembSita deal is subject to the approval of the Foreign Investment Review Board (FIRB).
Australian Financial Review