Italy's EcoEridania sale advances with bids from CVC DIF, Ardian and Swiss Life, say sources

Swiss Life Holding AG

06/07/2026 14:58

By Elvira Pollina and Giuseppe Fonte
MILAN, July 6 (Reuters) - Infrastructure investors CVC DIF CVC.AS, Ardian and Swiss Life Asset Managers SLDCS.S have advanced to the final stage of the sale process for Italian special waste company EcoEridania after submitting non-binding bids, three sources familiar with the matter told Reuters.
EcoEridania, a leading Italian medical and hazardous waste management company that benefits from growing demand for specialised environmental services, could be valued at over 1 billion euros ($1.14 billion), according to the people.

KEY DETAILS
Based near the city of Genoa, EcoEridania is majority-owned by investment fund iCON Infrastructure, which is working with JP Morgan on the sale, the people said. 
Infrastructure funds have shown sustained interest in the sector as they are attracted by its stable cash flows as it is a regulated and defensive sector, bankers said. 
Italian state lender CDP, which also expressed interest in the asset through its investment arm CDP Equity, is looking to partner with one of the funds shortlisted in the sale, one of the sources and a fourth one said. All four sources spoke on condition of anonymity because the matter is private. 
Macquarie MQG.AX and Goldman Sachs Asset Manager, which both made non-binding offers, are no longer in the race, two of the people added.
A preferred bidder is expected to be selected by the end of July or early August, two of the sources said, although the timeline could still change.
EcoEridania declined to comment. iCON Infrastructure did not respond to requests for comment. CVC DIF, Ardian and Swiss Life and Macquarie declined to comment. Goldman Sachs Asset Manager and CDP were not immediately available to comment.
     
($1 = 0.8761 euros)

 (Reporting by Elvira Pollina in Milan and Giuseppe Fonte in Rome; Editing by Anousha Sakoui and Susan Fenton)
 ((elvira.pollina@thomsonreuters.com))