trending Market Intelligence /marketintelligence/en/news-insights/trending/ZH-X0snOWKVTfRg71Gwr9g2 content esgSubNav
In This List

Report: Pennon mulls £4B sale of incinerator business

Blog

Japan M&A By the Numbers: Q4 2023

Video

See the Big Picture: Energy Transition in 2024

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Report: Pennon mulls £4B sale of incinerator business

U.K. environmental utility infrastructure company Pennon Group PLC hired Morgan Stanley and Barclays as it explores a £4 billion sale of its Viridor Ltd. unit, The Daily Telegraph (London) reported, citing City of London sources.

The move reportedly follows a bid from private equity giant KKR & Co. Inc. to buy out the bin collection and incinerator business in early 2019. Pennon first said in September 2019 that it was evaluating options for Viridor, the publication noted.

Advisers reportedly have informally reached out to prospective buyers to gauge interest and are working to formally launch an auction.

Neither Pennon nor KKR commented on the matter, according to the publication.