Waste

EBRD sells stake in Romania’s Green Group

Published

May 11, 2016

Comments

0

Share

Published:

May 11, 2016

Comments:

0

Share

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.

 

Tags: ,

Related Articles

Full decarbonization of production is Elixir Group's strategic goal for 2030

Full decarbonization of production is Elixir Group’s strategic goal for 2030

10 June 2024 - At the production location in Prahovo, which is the center of Elixir's chemical production, four new greenfield plants with a completely new industrial infrastructure will be built by 2027, which are investments worth around 300 million euros

World Oceans Day 2024 Awaken New Depths

World Oceans Day 2024: Awaken New Depths

07 June 2024 - Awaken New Depths is the slogan for this year's World Oceans Day, which has been celebrated every June 8 since 2008

energy-intensive-industries-serbia-CBAM

Serbia’s energy-intensive industries brace for CBAM, seek state support to apply decarbonization solutions

22 May 2024 - Companies in Serbia are not afraid of decarbonization and CBAM, but are worried the state does not recognize what needs to be done to help the affected industries

CBAM ante portas – the ball is in Serbia’s court to facilitate conditions for its companies

CBAM ante portas – the ball is in Serbia’s court to facilitate conditions for its companies

12 May 2024 - Industrial players in Serbia have all the knowhow for minimizing emissions and participating in the country's environmental renewal, according to Lafarge Serbia's CEO Dimitrije Knjeginjić