- Transaction completed on June 10 th , in-line with the envisaged timetable
Madrid, June 11 th. The sale of Urbaser’s UK business to FCC Servicios Medio Ambiente (‘FCC SMA’), a conglomerate dedicated to environmental services formed by the Spanish company FCC with 75.01% and the Canadian Pension Plan Investment Board (‘CPPIB’) with 24.99%, has been completed today.
The transaction has been completed following the fulfilment of the conditions precedent to closing.
Urbaser entered the UK market in 1998 and its business and operations have included waste collection, recycling, treatment and street cleaning activities.
The divestment of the activities in the United Kingdom represents another step in the execution of Urbaser’s strategy. Urbaser continues increasing its focus and investment in strategic countries, offering the best environmental solutions to its clients.
Barclays Bank Ireland PLC acted as financial advisor to Urbaser on the transaction. Latham and Watkins acted as legal advisor.
