Suez may be interested in the acquisition of Urbaser
Suez Environnement may be interested in the acquisition of Spain's Urbaser, which is owned by ACS Group.
According to Jean-Louis Chaussade, Chief Executive Officer (CEO) of Agbar, Suez is currently analzying the transaction but they have not shown any interest to the buyer.
Last month we reported that Spanish infrastructure developer ACS Group has plans to sell Urbaser, its environmental subsidiary.
ACS hired BBVA and Societe Generale as financial advisors to conduct the transaction.
The environmental company could has an estimated value of between €2 billion (US$2.2 billion) and €2.5 billion (US$2.76 billion). In 2014, Urbaser had a turnover of €1.65 billion, which represents an increased of 8.3% from 2013, and its portfolio of contracts amounted €8.45 billion.
Urbaser S.A., which is is based in Madrid, offers street cleaning, waste removal and transporting, urban waste treatment and recycling, and management of water cycle and urban landscape, and gardening services. The company also removes and treats used mineral oils and industrial waste.
This is not the first time that ACS aims to sell Urbaser. In 2008, ACS tried to sell the company to use the funds to reduce 50 % of the Group's debt. ACS has, as of September 2015, a total debt of approximately €3.9 billion.
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