British utility Pennon to sell waste management unit for $5 billion, including debt

Industry: Other    2020-03-19

Utility firm Pennon Group said on Wednesday it has agreed to sell its waste management business, Viridor, to U.S. private equity firm KKR & Co Inc for 4.2 billion pounds ($4.95 billion), including debt.

The deal, which has been unanimously agreed by Pennon’s board, will result in cash proceeds of 3.7 billion pounds taking into account Viridor’s debt, the company said.

Source: Reuters.com