Cleanaway Waste Management Ltd

CWY: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$3.30	Xvn	Hlkqbkjy

Cleanaway: Acquires Citywide Waste in Melbourne

Shane Ponraj

Jun 24, 2024

No-moat Cleanaway is acquiring the Citywide Waste waste and recycling business for AUD 110 million. The deal includes a 35-year lease for the Dynon Road waste transfer station in Melbourne. Dynon Road is Victoria’s second-largest waste transfer station, with capacity for about 215,000 metric tons of waste and recycling material annually. The acquisition is subject to approval by the Australian Competition and Consumer Commission. The deal would see Cleanaway owning two of the largest transfer stations in Victoria, but with other competition remaining in the waste handling industry, we think it is likely to get a green light.

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