The Portuguese group Mota-Engil sold the industrial waste company Suma (Serviços Urbanos e Meio Ambiente) to the Spanish company Urbaser, which is controlled by the North American fund Platinum Equity.
“The merger in question consists of Urbaser, SA acquiring exclusive control of an automobile company to be created that will own the industrial waste business unit of Suma (“Industrial Waste NewCo”), through the acquisition of a majority stake in its share capital to Mota-Engil, Ambiente e Serviços, SGPS, SA”, can be read at NB The Stock Exchange Commission (CMVM).
Urbaser merges with Mota-Engil consortium Suma with a stake of 59.20% for Mota-Engil and 40.80% for Urbaser. Now a company will be created, Industrial Waste Newco, which will combine the industrial waste business unit in Suma that Urbaser will acquire from Mota-Engil.
“It is an automobile company that will be created and will own the Industrial Waste Business Unit in Soma and that will integrate several companies operating in the markets for the collection and processing of hazardous and non-hazardous industrial waste, as well as the collection, transportation, and processing of used oils,” explains the note sent to CMVM.
Urbaser operates in Portugal through a minority stake in Suma, a company that in turn owns a group of companies developing its activity in the waste management sector.
Fernando Abril Martorell, CEO of Urbaser since June 2022, will take over Newco’s industrial waste management.
Completion of the process is waiting for the regulatory period granted by CMVM to send feedback.
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