Suez SA along with Royal Bafokeng Holdings (Pty) Limited and The Ideas Managed Fund managed by African Infrastructure Investment Managers (Pty) Ltd. signed a binding agreement to acquire Enviroserv Waste Management (Pty) Ltd. on June 8, 2022. The shareholdings for the acquisition is SUEZ 51%, RBH 24.5% and AIIM's IDEAS Managed Fund 24.5%. The transaction is subject to customary conditions precedent including the authorization of the South African antitrust authorities.

Quercus Corporate Finance acted as a financial advisor to Enviroserv Waste Management (Pty) Ltd. As on June 9, 2022, Local antitrust authorities approved the transaction.Rand Merchant Bank acted as financial advisor to Enviroserv Waste Management (Pty).