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Investing.com -- French waste-management company Veolia agreed to buy U.S. hazardous-waste specialist Clean Earth from Enviri for approximately $3 billion including debt.
Veolia announced Friday that the acquisition would enable the company to expand in the growing U.S. hazardous waste sector.
Enviri confirmed that Veolia would pay an aggregate cash sum of $3.04 billion for the transaction.
Following the completion of the deal, Veolia projects that revenue from its hazardous-waste division will reach €5.2 billion ($5.99 billion) with an earnings before interest, taxes, depreciation and amortization (Ebitda) margin of 17%.
The company is now targeting the division’s Ebitda to grow at least 10% from a 2024 baseline through 2027.
The French company stated that the acquisition would generate synergies of $120 million within four years of completion and would be accretive to earnings per share from the second year.
Veolia expects to finalize the transaction by mid-2026, pending approval from Enviri’s shareholders.
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