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EQT to buy Cleanaway for A$9.3 billion

NEWS

October 19, 2026 at 00:18 UTC

2 min read
Industrial garbage truck at modern waste facility illustrating EQT takeover of major waste manager CWY.AX

Key Points

  • 01EQT agrees to acquire Cleanaway Waste Management for about A$9.3 billion
  • 02Deal executed via EQT entity Sedum Group to buy 100% of shares
  • 03Shareholders offered A$3.095 cash per share, adjusted for dividends
  • 04Cleanaway board to pay a fully franked special dividend before completion

EQT moves to acquire Cleanaway in A$9.3 billion deal

EQT AB has agreed to acquire Cleanaway Waste Management Ltd., one of Australia’s major waste management companies, in a transaction valuing the business at about A$9.3 billion, equivalent to roughly $6.5 billion. The deal marks a significant take-private transaction in the Australian market and follows a period of share underperformance for Cleanaway.

Under the agreed terms, EQT will execute the acquisition through its entity Sedum Group Pty Ltd. Sedum Group is set to acquire 100% of Cleanaway’s shares, resulting in the company becoming privately held once the transaction is implemented.

Offer terms and shareholder consideration

Cleanaway shareholders are to receive A$3.095 in cash per share as the headline scheme consideration. This cash amount will be reduced by the value of any dividends paid prior to completion of the transaction, as specified in the exchange filing.

In addition to the scheme consideration, Cleanaway’s board plans to pay shareholders a fully franked special dividend in the range of A$0.145 to A$0.190 per share before the deal is implemented. The cash value of this special dividend will be deducted from the A$3.095 per share scheme amount when determining the final payment to shareholders.

Structure, timing and transaction context

Details of the proposed transaction, including the overall valuation, per-share offer and special dividend, were set out in an exchange filing dated October 18, 2026. The filing outlines the structure as a cash acquisition of all Cleanaway shares by Sedum Group.

The announced terms position the deal as a full take-private of Cleanaway following a stretch of underperformance in its share price. While the filing highlights the key financial components of the offer, it does not in the cited portion elaborate on the regulatory approvals, timetable or other conditions that may be required before completion.

Key Takeaways

  • 01The agreed A$9.3 billion valuation and all-cash structure underline the scale of EQT’s move into Australian waste management.
  • 02Shareholder value will be delivered through a combination of scheme consideration and a fully franked special dividend, with the latter offset against the cash offer.
  • 03Once implemented, the deal will remove Cleanaway from public markets and place it under private ownership via EQT’s Sedum Group entity.

References

  1. https://www.bloomberg.com/news/articles/2026-10-18/eqt-agrees-to-buy-australia-s-cleanaway-waste-for-6-5-billion
  2. https://www.globalbankingandfinance.com/australias-cleanaway-agrees-6-5-billion-eqt-takeover-shares/
  3. https://biztoc.com/x/964a077223bb53f0
  4. https://biztoc.com/
EQT to buy Cleanaway for A$9.3 billion | Trading Dashboard