DELTA sells Indaver to Katoen Natie
NIEUWDORP/MIDDELBURG, March 6, 2015 – DELTA N.V. (“DELTA”) reached an agreement today with Katoen Natie for the proposed sale of its 74.99 percent stake in the share capital of waste processor Indaver N.V. (“Indaver”). The agreed purchase price is based on an Enterprise Value of € 842 million and an Equity Value of € 555 million, resulting in total proceeds for DELTA of € 416 million. This result enables DELTA to further reduce its debt and strengthen its financial position for the future. The sale fits well with the strategy discussed with the DELTA shareholders. With Katoen Natie as the new majority shareholder Indaver can continue its international growth strategy.
Official press release: Indaver
Emendo Capital acted as exclusive financial adviser to the shareholders of DELTA.
Indaver operates specialised facilities and smart systems for waste management, processing approx. 5 million tonnes of waste annually from industry, local authorities and households.
Indaver creates value from waste by recovering materials and energy. With the safe sink guarantee, we prevent harmful substances from winding up in the material or food chain. Indaver is committed to safe, low-carbon and energy efficient closing of material cycles. Headquartered in Belgium, Indaver has 31 operational sites in Europe, employing 1662 people in Belgium, Germany, Ireland, the Netherlands, the UK, France, Italy, Spain and Portugal.
For additional information on Indaver, visit indaver.com.
About Katoen Natie
Katoen Natie is a private Flemish enterprise and its activities consist of value-add logistical services with activities in 30 countries and more than 13,000 employees.
For additional information on Katoen Natie, visit katoennatie.com.