Acquisition by Veolia not opposed by the ACCC
An agreement for the acquisition was reached by the companies at a global level in April 2021, prompting extensive consultation and inquiry on the proposal by the ACCC to ensure the proposed acquisition would not be likely to substantially lessen competition.
Today’s decision follows the ACCC’s announcement on 9 December that it did not oppose the sale by SUEZ of two landfills precincts and five waste transfer stations in Sydney to Cleanaway Waste Management Ltd.
Approval for the Veolia acquisition was contingent on divestment remedies offered by Veolia including the divestment of some SUEZ national commercial and industrial (C&I) customer contracts, the Seven Hills Transfer Station in NSW and the Wingfield (C&I) and medical waste businesses in South Australia. These assets and customer contracts will be divested to Remondis as part of a broader divestiture package.
Water activities will continue to operate under the SUEZ brand in Australia and will be part of SUEZ, entity which will be owned by a new consortium of owners as soon as the transaction is complete.