The Dutch utility concern Delta plans to divest its 75 per cent stake in the Belgian waste management group Indaver. With the sale Delta intends "to improve its debt position substantially" and thus "lay down a solid foundation for the future”, the concern announced on Tuesday.
The sale looked like a good option for Indaver, as well, said Arnoud Kamerbeek, Delta's CEO. Indaver will need capital to pursue its international growth strategy, and Mr Kamerbeek considers it "quite obvious” that a new shareholder could better facilitate Indaver’s growth than could Delta with its public-sector shareholders.
Indaver employs a staff of around 1,700 and operates 32 facilities in Belgium, the Netherlands, Germany, Ireland, Portugal and Italy. The company managed around five million tonnes of waste per year. In 2013, the concern posted an annual profit of €40m on turnover of €526m.