Veolia to sell Suez UK waste business to Macquarie for €2.4bn

French utility group agrees sale to Australian private equity group to resolve CMA's competition concerns

The French utility group Veolia has agreed to sell the UK waste business of Suez to the Australian private equity group Macquarie for 2.4bn (2bn) to resolve competition concerns.

Veolia, which agreed a 13bn deal to buy its smaller French rival last year after a bitter takeover battle, has been disposing of parts of Suez in a number of international markets to clear anti-trust concerns.