Remondis has completed its acquisition of a minority stake in Austrian waste management company Saubermacher. Austria's Federal Competition Authority approved the transaction in mid-June following an extended review process. The "preferred partnership" has now been finalised, Saubermacher said last week. Germany's largest waste management group now holds a 27.79 per cent stake in the Austrian market leader.
The Roth Private Foundation remains Saubermacher's majority shareholder with 72.21 per cent of the shares. The Austrian company stressed that it would continue to operate independently and that operational responsibility at all levels would remain with the existing management team.
Saubermacher did not divulge the purchase price and Remondis has thus far declined to comment on the details of the transaction, describing it only as a "purely financial investment".
According to Saubermacher, the partnership builds on a long history of cooperation between the two family-owned companies. The investment is intended to strengthen long-term security of supply for customers and create additional opportunities to develop the circular economy. When the deal was announced in January, the company's founder and supervisory board chairman Hans Roth identified strong growth in south-eastern Europe as a key objective.
