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Suez finalizes sale of Recycling & Recovery operations in Sweden

| By Mary Bailey

SUEZ (Paris, France) announced it has completed the sale of its Recycling & Recovery operations in Sweden to PreZero, 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 PreZero, 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 SEK 3,700m1, i.e. c. EUR 357m1. The completion of the transaction occurred after receipt of merger control approval from the European Commission.

The business transferred to PreZero operates a network of c. 50 sites in the country and employs close to 1,100 people. It generated c. SEK 2,661m in sales (i.e. c. EUR 250m) and c. SEK 358m1 (i.e. c. EUR 34m1) in EBITDA in 2019.

This transaction is part of the asset rotation plan deployed in the framework of SUEZ 2030 strategy, to focus on differentiating, innovative and high value-added businesses.