Private equity firms CVC and KKR have put their Dutch waste processing company Van Gansewinkel up for sale and are hoping for a deal by the end of this year, the Financieele Dagblad says on Thursday.
The two private equity firms bought Van Gansewinkel at the beginning of 2007 and merged it with their Rotterdam waste processing company AVR, bought in 2006. AVR was sold off last year and the proceeds used to reduce Van Gansewinkel’s debt.
However, the FD says takeover experts have their doubts if much will be left for the private equity firms once Van Ganswinkel is sold, because the company has bank debts of €670m.
Van Gansewinkel has 5,800 employers and turnover of some €1bn, of which 60% is earned in the Netherlands.
German sector peer Remondis, French firm Sita and US group Waste Management are being tipped as potential buyers, the FD says.
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