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CWY - Cleanaway Waste Management News Story

A$2.8 0.0  1.1%

Last Trade - 7:10am

Sector
Industrials
Size
Large Cap
Market Cap £3.18bn
Enterprise Value £3.72bn
Revenue £1.28bn
Position in Universe 99th / 1907

BUZZ-Jefferies says Cleanaway's deal to buy Suez's local assets will deliver value

Wed 7th April, 2021 12:27am
** Jefferies says Cleanaway Waste Management's  CWY.AX 
potential purchase of French firm Suez's  SEVI.PA  local
recycling and recovery business is a good deal, expected to
deliver value 
    ** Australia's CWY said on Tuesday it would acquire the
local recycling and recovery business of Suez for A$2.52 billion
($1.93 billion)  urn:newsml:reuters.com:*:nL4N2LY2DU
    ** Jefferies says at minimum the deal should provide for the
acquisition of Suez's Sydney assets
    ** Adds that while all of Suez's local business is
preferred, its Sydney assets are "complimentary and attractive"
    ** With the potential delivery of another transformative
acquisition, as well as the growth potential of the core
business, CWY remains attractive, Jefferies says
    ** Retains "buy" rating on stock and PT of A$2.61
    ** On Tuesday, CWY shares closed about 16% higher at A$2.55
    ** Three of 11 analysts rate the stock "buy" or higher and 8
rate "hold"; their median PT is A$2.48– Refinitiv data
    ** Stock has risen 8.5% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru; Editing by Himani
Sarkar)
 ((Savyata.mishra@thomsonreuters.com))
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