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SUEZ completes the acquisition of the non-controlling interests in its Chinese operations Suyu

  • SUEZ completes the acquisition of the non-controlling interests in its Chinese operations Suyu

About the entity

SUEZ
As an expert in water and waste for 150 years that is present on the 5 continents, SUEZ harnesses all its capacity for innovation to work for the efficient and sustainable management of resources.
ACCIONA
Idrica

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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.

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