Finance

Municipality of Amsterdam relieved of headache file, sells waste processor AEB

In a press release, the municipality writes that the sale to AVR yielded the best proceeds. In addition, the Rotterdam company would be a suitable new owner, as a ‘financially solid party with a long-term focus’, with a great deal of experience in the Dutch market and an ‘excellent reputation’ in the field of sustainability and the capture of CO2.

headaches

With the sale, Amsterdam has been released from a company that has caused many headaches in recent years. Two years ago, the waste processor had to be rescued from bankruptcy by the municipality after installations had to be shut down due to poor maintenance.

AEB can process 1.4 million tons of household and commercial waste every year. AVR processes approximately 1.7 million tons per year. The takeover still has to be approved by the cartel watchdog Authority for Consumers and Markets.

Superman

As a result of the acquisition, AEB will be indirectly owned by Chinese investors from Hong Kong. The much earlier privatized AVR has been in the hands of the business conglomerate CK Hutchison of the Hong Kong-Chinese billionaire Li Ka-Shing since 2013.

In the Netherlands, CK Hutchison also owns the drugstore chain Kruidvat.

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