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SUEZ strengthens its position in Australia through the buyout of Sembcorp

22/09/2015

SUEZ and Sembcorp Industries  announced yesterday that they have signed an agreement, which foresees the purchase of Sembcorp 40% stake in Sembsita Pacific by SUEZ for a consideration of 485 million of Australian dollars.

Since 2000, SUEZ and Sembcorp have developed a successful partnership, which resulted in significant growth of SembSita Pacific. With more than 56,000 commercial and industrial clients, and 3.7 million people supplied with services in the major cities, it is the leader in the Australian market of waste recovery through advanced resource recovery treatment, and notably mechanical biological treatment.

This transaction represents an opportunity for SUEZ to accelerate its development through the full integration of its water, waste and oil & gas activities in Australia, as SUEZ expects to develop cross-selling and extract operational synergies in the short-term. It enables Sembcorp to refocus its investments on core strategic businesses.

This transaction is financially accretive for SUEZ and is compliant with the selective financial investment criteria followed by the Group.

Jean-Louis Chaussade, CEO of SUEZ said: “This transaction will allow SUEZ to integrate its whole portfolio of activities in Australia, enabling an acceleration of growth and business development momentum in a very promising market. This will also lead to the extraction of both operational and financial synergies. It illustrates our strategic ability to maximize our value creation from existing geographical strongholds. Following this acquisition, the financial flexibility of the Group remains strong and keeps SUEZ ready to seize new development opportunities”.

The transaction is subject to Foreign Investment Review Board approval in Australia, and is expected to be completed by the fourth quarter of 2015.

– Ends –

CONTACT: SUEZ Australia press office: 02 8775 5527

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