PE-owned Dutch waste company sells subsidiary to Cheung Kong Infrastructure
A Dutch waste management provider owned by CVC Capital Partners and KKR has exited its energy-from-waste (EfW) subsidiary to a consortium led by Cheung Kong Infrastructure (CKI) for EUR940 million ($1.27 billion). It is the Hong Kong-based company’s second acquisition in the space this year – the other was in New Zealand – and also underlines Asian interest in European infrastructure assets.
CKI and parent company Cheung Kong Holdings will each take a 35% stake in AVR Afvalverwerking, with Power Assets Holdings and the Li Ka Shing Foundation owning 20% and 10%, respectively. All these companies...
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