EQT to Acquire Australia's Cleanaway in AU$9.3 Billion Deal

04:50 AM EDT, 10/19/2026 (MT Newswires) -- EQT's (EQT.ST) EQT Infrastructure VI secured unanimous backing from Cleanaway Waste Management's board to purchase the Australian integrated waste management and resource recovery company at an enterprise value of AU$9.3 billion. The Swedish private equity group said Monday that its fund will acquire Cleanaway through a scheme of arrangement, offering AU$3.095 in cash per share, less any declared or paid dividends or other distributions. The offer values Cleanaway shares at a 32.1% premium versus their closing price of AU$2.37 on Aug. 12, the final trading day before initial media reports about a possible deal. Cleanaway's board viewed the arrangement as being in the best interest of its shareholders amid the absence of a superior offer. The scheme is slated for implementation by the end of March 2027, pending shareholder approval, Federal Court of Australia clearance, and other closing conditions. Cleanaway serves households, businesses, and communities across Australia by offering essential collection, recycling, treatment, and disposal services. EQT noted that the company is well-positioned to meet the country's rising demand for safe waste management and efficient resource recovery, citing its integrated national infrastructure, operating capabilities, and longstanding customer relationships. "Cleanaway has built an exceptional national platform providing services to Australians every day. We see significant opportunity to build on these strong foundations by investing in the infrastructure needed to meet Australia's evolving waste management and resource recovery needs, and to support Cleanaway's management team as they enhance the performance of its integrated network and strengthen outcomes for customers and communities," EQT Infrastructure Managing Director Sam Franklin said. By Monday midday, EQT shares were trading nearly 2% lower in Stockholm.