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Market rumours of possible sale of EEW

EEW's headquarters in Helmstedt, Germany
BEHL has acquired Germany's largest operator of waste
to energy plants from electricity company Eon in 2016.
12.08.2021 − 

Is Chinese conglomerate BEHL planning to sell EEW, Germany’s largest operator of waste to energy plants? Financial news service Bloomberg reported on 11 August, citing people "with knowledge of the matter", that BEHL had asked investment banks to submit proposals for managing a sale of EEW. According to Bloomberg’s sources, the deliberations are "at an early stage" and the Chinese state-owned enterprise could decide to keep EEW.

EEW declined to comment on the Bloomberg report. As a rule, the company does not comment on market rumours, the Helmstedt-based headquarters stated. Sources close to the company told EUWID that talk of a mooted sale was nothing more than a rumour. Due to the recent placement of a €400m corporate bond, EEW had become more prominent on the capital market. Under these circumstances, it was absolutely normal that a company and its shareholders would be approached by investment banks and that market evaluations and potential, non-binding scenarios would be developed, the sources said. However, this does not imply that there are any specific or current plans to take action, according to the sources close to the company.

Beijing Enterprises Holdings Limited (BEHL) acquired EEW in spring 2016 for around €1.4bn. In the same year, the Chinese state fund "Silk Road" purchased an undisclosed stake in EEW. The company currently operates 17 waste to energy plants Germany, the Netherlands and Luxembourg, which together treated 4.81 million tonnes of waste in 2020. In 2019, EEW generated a consolidated net profit of €95m on revenues of €593m.

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