SUEZ, Royal Bafokeng Holdings (RBH) and African Infrastructure Investment Managers (AIIM) have signed a binding agreement for the acquisition of EnviroServ Holdings Proprietary Limited.
EnviroServ, founded in 1979, collects, treats and disposes of general and hazardous waste at treatment and disposal facilities across South Africa, Mozambique, and Uganda. The company with 2,200 staff and a turnover of more than EUR80 million (US$83.7 million), counts on a strong portfolio of customers including a number of multinational firms operating in the petrochemicals, manufacturing, metallurgical and mining sectors.
The acquisition will be made through a special purpose holding company, with the following shareholdings: SUEZ 51%, RBH 24.5% and AIIM’s IDEAS Managed Fund 24.5%. The transaction is subject to customary conditions precedent including the authorization of the South African antitrust authorities.