SUEZ ENVIRONNEMENT (EPA:SEV) SUEZ completes the acquisition of the non-controlling interests in its Chinese operations Suyu
Transparency directive : regulatory news
11/05/2021 12:50
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press release
Paris, May 11th 2021
SUEZ completes the acquisition of the non-controlling interests in its Chinese
operations Suyu
SUEZ announces today that it has completed the acquisition of NWS' (NWS
Holdings Limited) 50% indirect stake in Suyu, in accordance with the
announcement of January 11th, 2021.
Following the acquisition of the 50% stake from NWS, SUEZ now owns 100% of
Suyu. The final cash consideration for the transaction amounts to c.EUR253m(1).
In 2019, Suyu generated an EBITDA and a Net Income of c.EUR32m.
SUEZ expects the acquisition to be accretive to recurring Net Income and
recurring FCF as soon as 2021.
SUYU
In 2015, SUEZ and NWS signed, through their 50/50 joint venture Suyu, an
agreement with Chongqing Water Assets to jointly create Derun Environment.
Derun Environment, through its 50.04% shareholding in Chongqing Water Group and
43.86% in Chongqing Sanfeng, is a leading Group in Water and Waste activities
in China and an investment platform to significantly speed-up the development
and implementation of innovative solutions in the Chongqing area.
Following the acquisition of NWS' indirect 50% stake in Suyu, SUEZ will now own
25.1% of Derun Environment. By increasing its ownership, SUEZ is reinforcing
its commitment and partnership with Chongqing Water Assets. SUEZ will continue
to develop and implement cutting-edge solutions to optimize water and
wastewater treatment management, in partnership with the municipality and its
partners.
CONTACTS:
Media
Isabelle Herrier Naufle
isabelle.herrier.naufle@suez.com
+33 (0)6 83 54 89 62
Analysts/Investors
Cécile Combeau / Baptiste Fournier / Julien Minot
+33 (0)1 58 81 24 05 / 54 85 / 37 09
About SUEZ:
Since the end of the 19th century, SUEZ has built expertise aimed at helping
people to constantly improve their quality of life by protecting their health
and supporting economic growth. With an active presence on five continents,
SUEZ and its 90,000 employees strive to preserve our environment's natural
capital: water, soil, and air. SUEZ provides innovative and resilient solutions
in water management, waste recovery, site remediation and air treatment,
optimizing municipalities' and industries' resource management through "smart"
cities and improving their environmental and economic performance. The Group
delivers sanitation services to 64 million people and produces 7.1 billion m3
of drinking water. SUEZ is also a contributor to economic growth, with more
than 200,000 jobs created directly and indirectly on an annual basis, and a
provider of new resources, with 4.2 million tons of secondary raw materials
produced. By 2030, the Group is targeting 100% sustainable solutions, with a
positive impact on our environment, health and climate. SUEZ generated total
revenue of EUR17.2 billion in 2020.
Find out more about the SUEZ Group on the website & on social media
Facebook, Twitter, Linkedin, Youtube
(1) EUR/HKD rate of
9.33 as of May 05th, 2021 applied to the total amount of HK$2,360m for the
transaction
SUEZ
Head office: Tour CB21 ? 16, Place de l'Iris, 92040 Paris La Défense Cedex,
France ? Tel.: +33 1 58 81 20 00 ? www.suez.com
Limited company with capital of 2,557,356,896 euros -
SIREN (French business administration number): 433 466 570 RCS NANTERRE -
VAT No.: FR76433 466 570