Enviri Corporation announced the sale of Clean Earth to Veolia for $3.04 billion.
Shareholders will receive cash consideration of $14.50 - $16.50 per share at closing, plus stock in New Enviri.
New Enviri will have approximately 2.0x net leverage at closing and a right-sized corporate cost structure.
Cash Consideration for Shareholders
Shareholders expected to receive $14.50 - $16.50 per share at closing.
Creation of New Enviri
Spin-off of Harsco Environmental and Rail businesses into a standalone publicly traded company.
Leverage and Corporate Structure
New Enviri will have 2.0x net leverage at closing and a right-sized corporate cost structure.
CEO Transition
Russell Hochman to become CEO of New Enviri.
- The transaction is a significant step in realizing Enviri's sum-of-the-parts value.
- New Enviri is well-positioned to realize value creation potential in both Harsco Environmental and Rail segments.
Enviri Corporation's strategic sale and spin-off transactions mark an important milestone in maximizing shareholder value and positioning New Enviri for future growth and value creation.