UK's Renewi to sell UK Municipal business to Biffa
30/05/2024 07:28
May 30 (Reuters) - Waste management firm Renewi RWI.L
plans to sell its UK Municipal business to Biffa Ltd as it fully
shifts focus to recycling operations in line with last year's
strategic review, the London-listed company said on Thursday.
Renewi said it will make the transaction through a
combination of a nominal cash consideration payable to Biffa and
a 125-million-pound ($158.6 million) capitalisation of UK
Municipal to help the divested business fulfil its future
contractual obligations.
($1 = 0.7881 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Janane Venkatraman
)
((abyjose.koilparambil@thomsonreuters.com))