Rotterdam company buys Amsterdam waste processor for 450 million euros

Rotterdam company buys Amsterdam waste processor for 450 million euros

The Rotterdam waste company AVR has bought the Amsterdam waste processor AEB for 450 million euros. The municipality of Amsterdam reports this on Wednesday. With the sale, the municipality has relinquished its 100 percent shareholding.

The choice fell on AVR because of its experience in the Dutch market with “an excellent reputation” in the field of sustainability, according to the municipality. In addition, the Rotterdam company offered the highest price. It finances the purchase “entirely from its own resources”, writes Amsterdam. After paying off all debts that AEB has incurred, the municipality will make a profit of approximately 60 million euros with the sale.

The Amsterdam waste company ran into financial difficulties in the summer of 2019, after four of its six incinerators were closed for safety reasons. The municipality of Amsterdam decided that same year, as the sole shareholder, that the company should come into private hands. However, the sales process was delayed due to the corona crisis.

Rotterdam company buys Amsterdam waste processor for 450 million euros
Source link Rotterdam company buys Amsterdam waste processor for 450 million euros

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