The European Bank for Reconstruction and Development (EBRD) said it divested its share in Romania’s Green Group, specialized in consumer packaging waste recycling. The firm embarks on its next stage of development and sets its sights on a public listing, the press release states.
EBRD’s stake, as well as the part owned by Global Finance, Athens-based private equity firm focused on Southeastern Europe, is being taken over by Abris Capital, private equity fund headquartered in Warsaw and operating in Central and Eastern Europe, the statement adds. After four years as a shareholder the EBRD is proud to complete its role in Green Group, said Matteo Patrone, the bank’s head of operations in Romania and Bulgaria. “Our finance and advice has helped the company become the largest integrated recycling group in Southeastern Europe with real value and potential. We are confident that Abris Capital will take Green Group, as well as recycling in Romania, to the next level,” he underscored.
The company recycles plastic bottles, electric and electronic waste, batteries, fluorescent lamps and glass.
Green Group operates in recycling in Romania. It had consolidated turnover of EUR 90 million last year, EBRD said. The company recycles plastic bottles, electric and electronic waste, batteries, fluorescent lamps and glass. Green Group is responsible for Sigurec, infrastructure for collecting packaging as well as electric and electronic waste, which connects consumers with the recycler via reverse vending machines placed in large supermarkets. Green Group engages retailers, citizens and communities to stop important volumes of recyclables get wasted in landfills, the press release said.
Under the new shareholder structure, the entity aims to consolidate its waste collection system, extend the integrated recycling park and list its shares on the Bucharest Stock Exchange. EBRD invested EUR 6.8 million in Green Group’s shares in 2011, alongside Global Finance, the statement adds.