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Suez to Repurchase Former U.K. Waste Management Unit - Bloomberg

By Scott Kanowsky 

Investing.com -- Suez is set to repurchase its former U.K. waste management business from France's Veolia Environnement VE SA (EPA:VIE) for around €2.3B, Bloomberg reported citing people familiar with the matter.

The move will reportedly see Suez, which is made up of entities Veolia was forced to divest to assuage antitrust concerns following its acquisition of the utility firm in January, match an offer from Australian financial services group Macquarie (OTC:MQBKY).

Suez's owners, including asset manager Meridiam SAS and investment fund Global Infrastructure Partners, gave the company the go-ahead to trigger its right to refuse the Macquarie bid in order to take over the British operations, the people said.

The deal could be announced as soon as Wednesday, according to Bloomberg.

Shares in Veolia were trading in the green after the release of the report.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.