|
contents | news | |||||||||
| FCC to acquire Waste Recycling Group Fomento de Construcciones y Contratas, S.A ("FCC") and WRG Holdings have agreed the sale by WRG Holdings of its waste disposal business (other than its waste-to-energy business) to FCC, one of Spain's leading construction and service groups, for £1,400 million. This transaction follows the demerger in May 2006 of WRG Holdings' activities into distinct waste disposal and energy generated from waste. WRG Holdings retains ownership of the renewable energy business, which is the largest pure-play renewable power generation company in the UK. Upon completion of its acquisition of the waste disposal business ("WRG"), FCC will become a leading player in the waste management sector in the UK, significantly enhancing its existing presence through its wholly owned subsidiary Focsa. In combination with its current presence in Spain, where FCC is the leader in the waste management sector, and the recent acquisition of ASA, a prominent waste management player in Austria and a number of key Eastern European markets, the acquisition of WRG will position FCC as one of the leading Pan-European operators in this business. Terra Firma, the European private equity group, bought Waste Recycling Group in July 2003 and the UK landfill assets of Shanks Group were added in June 2004. write your comments about the article :: © 2006 Construction News :: home page |