Waste processor Van Gansewinkel postpones IPO

Waste processing group Van Gansewinkel, currently owned by private equity groups KKR and CVC, has postponed its flotation on the Amsterdam stock exchange which had been set for this year.

The company, which is carrying debts of €1.5bn since the private equity takeover in 2006 and 2007, had planned to raise money for acquisitions and debt reduction, reports the Financieele Dagblad.
However, the recovery in the waste processing sector is insufficient to ensure a successful IPO.
Van Gansewinkel told the paper a flotation remains the preferred option but it is now unrealistic to assume this will happen in the near future.

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