SUEZ has announced 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.€253m. In 2019, Suyu generated an EBITDA and a Net Income of c.€32m.
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.
