Bid launched for Biffa

14 August 2012 Waste firm Biffa is understood to be the subject of a £520m takeover bid from a consortium led by a recycling specialist.
Chinook Urban Mining, together with Clearbrook Capital and JP Morgan, have put together the offer in a move that would seek to reposition Biffa as a major player in the renewable energy sector, according to the Guardian.

Under the plans, the consortium would look to develop Biffa as an energy from waste provider to restore the firm to profitability.

Biffa is under increasing pressure to find a buyer, as it seeks to repay £1.1bn in loans.

It is understood the offer is being considered by PwC, which is advising the 76 banks and financial institutions that lent funds to Biffa’s current owners, Montagu Private Equity and Global Infrastructure Partners.

This page was last updated on:
21 September 2014.

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