Sita Acquires Waste Management International Activities In Sweden

European Report, Oct 11, 2000

The French Sita group, the waste subsidiary of Suez Lyonnaise des Eaux, said it had signed an agreement with the Swedish Sydkraft group (energy) and Waste Management International on the acquisition of activities in Sweden for Euro 217 million. The deal has still to be approved by the relevant authorities and is not likely to be finalised before the final quarter of this year.

Waste Management Sverige posted a turnover of Euro 161 million in 1999 and has a workforce of 1,100. Sita Chairman Mr Petry told a press conference that his group is currently working to finalise a major acquisition in a North European country.