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Sembcorp Subsidiary Acquires Veolia ES Singapore and Public Cleaning Business of Veolia ES Singapore Industrial

Power News - Published on Tue, 14 Jan 2020

Image Source: Veolia ES Singapore
Sembcorp Industries announced that it has, through its wholly owned subsidiary SembWaste, entered into a sale and purchase agreement with Veolia Environmental Services Asia to acquire 100% equity interest in Veolia ES Singapore and the public cleaning business of Veolia ES Singapore Industrial for approximately SGD 28 million. Completion of the deal is subject to conditions precedent including regulatory approvals. The businesses to be acquired hold contracts for public and commercial waste and recyclable collections covering recovery and recycling, public and commercial cleaning services, as well as associated properties which include a materials recovery facility.

This acquisition is in line with Sembcorp’s strategy of deepening its presence as an integrated energy and urban solutions player providing green and more efficient solutions to enable sustainable development in its key markets. Committed to supporting Singapore’s move towards a circular economy and a zero waste nation, the acquisition will further strengthen Sembcorp’s waste management and recycling business as the nation’s premier integrated environmental services provider.

By joining the dots along the entire waste management value chain from waste collection and public cleaning to materials recovery and turning waste into energy, this acquisition will help to strengthen Sembcorp’s strategy of supporting sustainable development with its integrated solutions.

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Posted By : Arun Huidrom on Tue, 14 Jan 2020
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