Macquarie-Backed Fund Offers to Buy Renewi for 707 Million Pounds Sterling

MT Newswires Live

Feb 14, 2025

An investment fund managed by Macquarie Group's (ASX:MQG) European asset management arm is acquiring London-listed waste management company Renewi for 707 million pounds sterling via a scheme of arrangement, according to a joint statement on Thursday.

Under the terms of the proposed deal, Renewi shareholders will receive 8.70 pounds sterling for every share held. This is a 57% premium to Renewi's closing price on Nov. 27, 2024.

Renewi directors plan to back the scheme unanimously, per the statement.

The offer is being made via Earth Bidco, a new company indirectly controlled by Macquarie European Infrastructure Fund 7 SCSp and BCI UK IRR Limited, a subsidiary of British Columbia Investment Management Corporation.

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