EQT agrees to acquire Australian waste management firm Cleanaway
Investment firm EQT has entered into an agreement to acquire Cleanaway, an Australian integrated waste management and resource recovery platform. The deal values Cleanaway at A$3.095 cash per share.
Investment firm EQT has agreed to acquire Cleanaway, an Australian company focused on waste management and resource recovery. The acquisition will be conducted through a scheme of arrangement, with EQT offering A$3.095 in cash per Cleanaway share, adjusted for any declared dividends or distributions.
The Board of Directors at Cleanaway has unanimously recommended that shareholders vote in favor of the proposed transaction. This recommendation is contingent upon the absence of a superior proposal and a positive conclusion from an Independent Expert regarding the scheme's benefit to shareholders.
EQT intends to support Cleanaway through its next phase of development. The investment firm aims to leverage Cleanaway's existing market position and resource recovery capabilities to drive future growth and operational enhancements.
The transaction is subject to customary closing conditions, including shareholder approval and regulatory clearances. This deal signifies a major investment in the Australian waste management sector by EQT.