Cleanaway Waste Management: Raises $400m to acquire Global Renewables

Cleanaway Waste Management Raises $400m to acquire Global Renewables

• Cleanaway Waste Management (CWY) launches $400 million capital raise program to fund its BluePrint 2030 strategy
• This includes its purchase of Global Renewables Holdings (GRL), in which the company agreed to buy a 100 per cent interest for just over $168 million
• GRL is a licensed composting facility that processes about 20 per cent of Sydney’s red bin household waste
• The company plans a fully underwritten $350 million institutional placement and a $50 million non-underwritten share purchase plan, in which shares will be issued at $2.50 each
• Shares are trading flat today at $2.71 each at 1:14 pm AEST