Suez to Buy Back $2.3 Billion UK Waste Unit, Trumping Macquarie
- Veolia forced to sell UK assets due to competition concerns
- Suez has right to preempt Veolia sale of unit to Macquarie
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French utility Suez SA is poised to buy back its former UK waste-treatment business from Veolia Environnement SA for about 2.3 billion euros ($2.3 billion), trumping Macquarie Group Ltd.’s agreement to purchase the unit, people familiar with the matter said.
Suez got the green light from its owners, which include Global Infrastructure Partners and Meridiam SAS, to use its preemption rights to acquire the British assets, matching the offer made last month by the Australian financial firm Macquarie, said the people, who spoke under the condition that they wouldn’t be named.