Viridor has said it will “update the market as and when it is appropriate” in light of reports which suggest American private equity firm KKR lodged a bid for the waste management company last year.
According to reports in The Telegraph this weekend (11 January), investment bankers from Morgan Stanley and Barclays have been appointed to sell Viridor, and an auction is thought to be taking place this year “for one of the most sought-after investments of 2020”.
Viridor’s strategic review is set to be completed this year
The paper claimed that KKR had attempted to “jumpstart” the official auction process for Viridor with a bid early last year, which was rejected. The report added that Viridor is valued at around £4 billion.
Viridor has a portfolio of 11 Energy from Waste plants which it says is worth around £1.5 billion. It operates the Lakeside facility near Slough with Grundon, with whom it also proposing a new plant in West Sussex (see letsrecycle.com story) - Link
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