EQT Infrastructure VI has signed a binding agreement to acquire Australian waste services company Cleanaway through a scheme of arrangement. Shareholders would receive 309.5 Australian cents per share before adjustments for distributions. The board supports the deal subject to conditions, including an independent expert’s continuing endorsement. Shareholder, court and regulatory approvals remain necessary, with completion expected by the end of March 2027.
EQT Infrastructure VI, the investment group’s infrastructure fund, signed a binding agreement to acquire all ordinary shares in Australian waste services company Cleanaway through a scheme of arrangement.[1], [2]
The announced enterprise value is approximately 9.3 billion Australian dollars. Cleanaway collects, recycles, treats and disposes of waste for households, councils, businesses and communities across Australia.[1]
The base consideration is 309.5 Australian cents per share, less dividends, special dividends or other distributions declared or paid before implementation. EQT cites a 32.1% premium to Cleanaway’s 2.37 Australian dollar closing price on August 12, before its first announcement about a potential transaction. A later completion would add a small daily payment under the deed’s timetable.[1]
Cleanaway’s board unanimously recommends the scheme if no superior proposal emerges and an independent expert continues to find it in shareholders’ best interests. Shareholder approval, Federal Court of Australia approval and regulatory clearances remain required. EQT expects completion by the end of March 2027, subject to conditions. A scheme booklet is expected to provide the expert’s report and meeting information; shareholders need take no action yet.[1]
