Waste processor Renewi has sold its Canadian operations. The Anglo-Dutch merger, which originated from Shanks and Van Gansewinkel, sells the Canadian branch to the Dutch investment fund Convent Capital. That pays around 72 million euros.
Renewi will receive the purchase price in installments, starting with an initial payment of approximately 56 million euros. The full acquisition is expected to be completed in September. Various municipalities in Canada still have to give their approval for the acquisition.
The sale simplifies Renewi’s structure and improves the balance between equity and debt on the balance sheet. Renewi has a stock exchange listing in London, but wants to go to the Amsterdam stock exchange later this year.
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