The European Commission has approved the acquisition of the Spanish waste management company Valoriza Servicios Medioambientales (VSM) by the US investor Morgan Stanley Infrastructure Partners (MSIP). Valoriza is active in the collection, treatment, recycling and recovery of waste, including construction and demolition (C&D) waste. In addition, the company has street cleaning, mobility, urban infrastructure and green space maintenance operations. It is being acquired by the infrastructure investment platform of the US bank Morgan Stanley.
In the course of a simplified merger review, the European Commission concluded that the proposed transaction would raise no competition concerns. The companies' activities did not overlap and were not vertically related, the EU authorityy said in its decision, which was announced on Wednesday. VSM's parent company, the Spanish infrastructure group Sacyr, announced the sale in June.
According to Sacyr, Valoriza carries out municipal waste collection, street cleaning and green area maintenance contracts in many Spanish cities, including Madrid, Barcelona, Reus (Tarragona) and Torrejon de Ardoz (Madrid) as well as in Bogotá, Colombia. VSM also operates a waste treatment plant in the city of Melbourne in Australia. The business unit generated €543m in revenue in 2022....
