Macquarie nearing $2.5 billion deal for Suez's UK waste business -Bloomberg News

·1 min read

Aug 7 (Reuters) - French waste and water management company Veolia Environnement SA is nearing a deal to sell Suez SA's UK waste business to Australia's Macquarie Group Ltd for about 2.5 billion euros ($2.5 billion), Bloomberg News reported on Sunday.

The deal, aimed at resolving antitrust concerns, could be announced as soon as Monday, the report added, citing people familiar with the matter. (https://bloom.bg/3p1Sg2o)

An investor group led by Meridiam SAS and Global Infrastructure Partners, which bought Suez's business in France and several other countries, has the right to make an offer for the Suez UK assets by matching the price Macquarie is offering, Bloomberg said.

Veolia said in June this year it was proposing to sell off its former rival, Suez's UK waste business, after Britain's Competition and Markets Authority (CMA) raised objections to the Veolia/Suez combination.

In December last year, Veolia and Suez won EU antitrust approval for their 13 billion euro ($14.7 billion) tie-up, after a months-long dispute including legal action and a move by Suez to ring-fence its French water business from Veolia, though that was later abandoned after the companies reached an agreement.

The deal was later closed on Jan. 7, with Veolia controlling 86% of Suez.

Macquarie, Veolia and Suez did not immediately respond to Reuters' request for comment.

($1 = 0.9830 euros) (Reporting by Jaiveer Singh Shekhawat; additional reporting by Jahnavi Nidumolu in Bengaluru; Editing by Stephen Coates)