Montagu takes gold in £1.2bn bid race for Biffa

摘要

The frantic billion pound race to buy waste management firm Biffa has been won by a private equity firm. A consortium led by Montagu Private Equity was revealed as the winner after a rival bid by City financier Guy Hands and the French industrial group Suez which owns Sita was withdrawl at the last moment. The £1.2 billion deal was made by a consortium called WasteAcquisitionco which is made up of Montagu, Global Infrastructure Partner - a coalition of GE Infrastructure and Credit Suisse - and UCIL. A spokesman for Suez said the firm had a view on the value of the assets and was keen not to overpay. Montagu are no strangers to the sector having previously owned Cory Environmental.