Sweden: Business Take Over Suez Finalises the Sale of its Recycling & Recovery Operations in Sweden
Suez has completed the sale of its recycling and recovery operations in Sweden for 431 million dollars. Under the terms of the agreement, the business has been transferred to Pre Zero and the move is in line with the company’s Suez 2030 strategy.
Paris/France – Suez has recently announced that it has completed the sale of its Recycling & Recovery operations in Sweden to Pre Zero, the environmental division of Schwarz Group, in accordance with the announcement of September 21, 2020.
The transaction enables a solid future for the business and its employees within Pre Zero, a fast-growing division of the largest European retailer and a pioneer in the area of recyclables. The sale was completed on the basis of an Enterprise Value of 431 million dollars. The completion of the transaction occurred after receipt of merger control approval from the European Commission.
The business transferred to Pre Zero operates a network of 50 sites in the country and employs close to 1,100 people. It generated 302 million dollar in sales and 41 million dollars in Ebitda in 2019.This transaction is part of the asset rotation plan deployed in the framework of the Suez 2030 strategy, to focus on differentiating, innovative and high value-added businesses.