FCC buys Urbaser's subsidiary in the United Kingdom for 464 million euros

MADRID, 12 Dic. (EUROPA PRESS) -

FCC Servicios Medioambiente has bought Urbaser's business in the United Kingdom for 398 million pounds (about 464 million euros), including debt and equity, as reported this Tuesday by both companies.

The transaction is expected to be completed in the second quarter of 2024, always subject to the fulfillment of certain conditions "usual in this type of operations."

Urbaser entered the United Kingdom market in 1998 and its operations include waste collection, recycling, treatment and urban cleaning activities.

The business currently provides service to more than 12 million citizens, has more than 1,700 employees and managed more than 1.5 million tons of waste during 2022.

Urbaser's activities in the United Kingdom represent around 5% of its total income.

In terms of waste treatment, the company has centers for domestic recycling, composting, material recovery, energy recovery and final disposal in this country.

Added to this is that it provides services such as municipal waste collection, recycling centers and street and garden maintenance.

The CEO of Urbaser, Fernando Abril-Martorell, explained that, with this transaction, the company advances in the execution of its strategy by highlighting its international asset portfolio and continuing its investments "in key countries", such as Spain.

Furthermore, they have stated that they are "convinced that, after this operation, FCC will continue to add value" in the services they provide to their clients in the United Kingdom and "will continue to offer development opportunities" for their employees in the country.

Barclays Bank Ireland PLC acted as financial advisor to Urbaser on the transaction, while Latham and Watkins acted as legal advisor.

For its part, Santander Corporate