Cleanaway Waste Management Ltd. (AU:CWY) has released an update.
Cleanaway Waste Management Ltd. has announced the strategic acquisition of Citywide Waste for $110 million, including a 35-year lease of a key waste transfer station in West Melbourne. This move is set to enhance Cleanaway’s collections business, expand its infrastructure network, and is expected to drive earnings growth following a $35 million redevelopment of the facility. Despite the acquisition being fully debt-funded and pending regulatory approval, Cleanaway anticipates significant integrated earnings growth post-redevelopment.
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