The logo of Australia’s largest investment bank Macquarie Group Ltd adorns a desk in the reception area of its headquarters office in Sydney, Australia, October 28, 2016. REUTERS/David Gray/File Photo
Aug 7 (Reuters) – French waste and water management company Veolia Environnement SA is nearing a deal to sell Suez SA’s UK business to Australia’s Macquarie Group Ltd ( MQG.AX ) for about 2.5 billion euros ($2.5 billion ), reported Bloomberg News Sunday.
The deal, aimed at resolving antitrust concerns, could be announced as early as Monday, the report added, citing people familiar with the matter. (https://bloom.bg/3p1Sg2o)
An investor group led by Meridiam SAS and Global Infrastructure Partners, which bought Suez’s operations in France and several other countries, has the right to bid for Suez’s UK assets at the price Macquarie is offering, Bloomberg said.
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Veolia said in June this year that it was proposing to sell its former rival, Suez’s UK waste business, after the UK’s Competition and Markets Authority (CMA) raised objections to the Veolia/Suez combination. See the article : Power & Politics Full Show: witness surprise the committee Jan. 6; former Roe in New Jersey; $ 50B signed budget.
In December last year, Veolia and Suez won EU antitrust approval for their 13 billion euro ($14.7 billion) tie-up, after months of wrangling, including legal action and a move by Suez to spin off its French water business from Veolia, although this was later dropped after the companies reached an agreement. read more
The deal was later closed on January 7, with Veolia controlling 86% of Suez.
Macquarie, Veolia and Suez did not immediately respond to a Reuters request for comment.
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Reporting by Jaiveer Singh Shekhawat; additional reporting by Jahnavi Nidumolu in Bengaluru; Editing by Stephen Coates
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