Macquarie Asset Management has entered into a unilateral agreement with Veolia to acquire its 100% stake in Suez Recycling and Recovery (Suez R&R) UK Group. The transaction is valued at approximately EUR2.4 billion (US$2.44 billion).

Suez R&R provides a wide range of services related to waste management across the UK. The transaction is subject to the UK Competition and Markets Authority (CMA) approval and to the right of first refusal granted by Veolia to the new Suez in 2021.