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UK's Biffa gets US$1.7b possible buyout offer from PE firm

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Published Tue, Jun 7, 2022 · 04:00 PM
    • The High Wycombe-based company also said it was the subject of an enquiry by Britain’s tax, payments and customs authority over certain aspects of its landfill tax compliance.
    • The High Wycombe-based company also said it was the subject of an enquiry by Britain’s tax, payments and customs authority over certain aspects of its landfill tax compliance. pixabay

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    BIFFA said on Tuesday it has received a possible buyout offer from affiliates of private equity firm Energy Capital Partners (ECP), valuing the British waste-management specialist at about US$1.69 billion.

    The London-listed company said ECP’s unsolicited proposal to buy the company is for 445 pence (S$7.68) apiece in cash - a premium of 37 per cent to the stock’s last close.

    Biffa said that it plans to back the bid if ECP tabled a firm offer at that price.

    The High Wycombe-based company also said it was the subject of an enquiry by Britain’s tax, payments and customs authority over certain aspects of its landfill tax compliance. REUTERS

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