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Morningstar raises Cleanaway's fair-value after EQT deal

By Reuters News

** Morningstar raises its fair-value estimate for Australia's Cleanaway CWY.AX by 5% to A$2.95 per share after the waste management co entered into a scheme implementation deed with EQT Infrastructure

** The brokerage assumes a 75% probability that the deal goes ahead, from 50% previously

** Morningstar adds that it will revert to its standalone valuation of A$2.50 per share if the deal does not proceed

** On Monday, CWY agreed to be bought by Swedish private equity group EQT EQTAB.ST in a deal that valued the company at A$9.3 billion ($6.48 billion), including debt

** CWY stock rose to its highest in two years on Monday after the company entered into the scheme implementation deed

** Stock is up nearly 14.7% this year, as of last close

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