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Italy's Falck Renewables to offload waste treatment firm

The Gorle plant. Source: Falck Renewables SpA

October 12 (Renewables Now) - Italy-based Falck Renewables SpA (BIT:FKR) said today it plans to sell a wholly-owned waste treatment plant operator to sector firm IMG 2 Srl for EUR 1.07 million (USD 9.1m).

Specifically, Falck has signed a preliminary deal to sell Esposito Servizi Ecologici Srl, which operates the Gorle plant and is engaged in the treatment and recovery of non-hazardous waste, principally from street sweeping and land reclamation. This business generated revenues of about EUR 7.9 million and recorded negative earnings before interest, tax, depreciation and amortisation (EBITDA) of around EUR 160,000 last year.

The final contract, including an expected price adjustment, will be concluded by the end of January 2019.

Falck develops, builds and manages wind, solar, waste-to-energy (WtE) and biomass power plants. As of 2018 it has a total installed capacity of 970 MW in the UK, Italy, the US, Spain and France.

(EUR 1.0 = USD 1.157)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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