SUEZ Asia to acquire a minority stake in SUEZ NWS and Chongqing Derun Environment from NWS Holdings for $840m.

SUEZ Asia, a provider of services for waste collection, recycling, recovery, treatment and disposal of urban and industrial waste, agreed to acquire a minority stake in SUEZ NWS and Chongqing Derun Environment, a provider of waste management services, from NWS Holdings, a company focused on infrastructure and services, for $840m. SUEZ Asia agreed to acquire a 42% stake in SUEZ NWS and 12.55% stake in Chongqing Derun Environment. “The Group has been optimizing its business portfolio since 2018, with the aim of streamlining business structures and articulating a clearer corporate development strategy. The disposal of SNL and Derun is in line with the Group’s business optimization strategy, giving us an opportunity to unlock value from our assets and reallocate resources to focus on projects with growth potential, lucrative returns and steady cashflow. It allows us to achieve sustainable long-term growth and create value for all stakeholders in line with the overall strategic direction of the New World Group," Eric Ma, NWS Chief Executive Officer.