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CFIUS Clearance: EQT Infrastructure and Covanta Holding Corporation
Friday, June 16, 2023

On July 14, 2021, Covanta Holding Corporation, a U.S. publicly traded (NYSE: CVA) waste-to-energy provider, operating facilities in North America, Europe and the UK, “entered into a definitive agreement with EQT Infrastructure (‘EQT’), whereby EQT will acquire all shares of Covanta common stock . . .” (Press Release, Covanta Holding Corp. Form 8-K, Ex-99.1, July 14, 2021, SEC Filing.) CFIUS Approval is a condition to the merger. (See Section 8.1(c) Agreement and Plan of Merger, Covanta Holding Corp. Schedule 14A, Aug. 19, 2021, SEC Filing.) “The parties filed . . . the draft CFIUS notice on August 13, 2021.” (Id.)  “On November 30, 2021, Covanta Holding Corporation . . . completed its previously announced merger with . . . an affiliate of EQT Infrastructure . . .”  (Covanta Holding Corp. Form 8-K, Nov. 30, 2021, SEC Filing.)

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