SUEZ reaches an agreement to dispose its 53.51% stake in ESSAL

SUEZ, through its subsidiary Aguas Andinas S.A., has agreed with Algonquin Power & Utilities Corp (“APUC”) to dispose its entire stake of 53.51% in Empresa de Servicios Sanitarios de Los Lagos S.A. (“ESSAL”) as part of a takeover bid. The total enterprise value implied by the takeover bid amounts to US$ c.295m.
This disposal is in line with Shaping SUEZ 2030 strategic plan whereby the Group is redirecting capital around businesses fitting its selective growth strategy.

ESSAL provides services for the production and distribution of drinking water, as well as wastewater collection and treatment. Within 33 concession agreements, ESSAL currently serves more than 224,000 households and 10,000 businesses in Chile. In 2019, it reported US$ c.77m Revenue and US$ c.17m EBITDA.

The transaction, subject to regulatory approvals, is expected to close in Q4 2020.


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