CANBERA (dpa-AFX) - Cleanaway Waste Management (CWY.AX) has entered into a Scheme Implementation Deed with Sedum Group, an entity owned by funds managed, operated and/or advised by the EQT AB Group, under which the bidder has agreed to acquire 100% of the shares in Cleanaway by way of a Scheme of Arrangement. Cleanaway shareholders will be entitled to receive A$3.095 cash for each Cleanaway share held on the Scheme record date, less the cash amount of any dividends paid. The Scheme consideration implies an enterprise valuation for Cleanaway of approximately A$9.3 billion.
The Cleanaway Board may declare and pay a fully franked special dividend of up to A$0.19 per share, currently expected to be in the range of A$0.145 to A$0.190 per share prior to implementation of the Scheme.
Cleanaway shares are trading at A$2.96 on ASX, up 20.04%.
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