Spanish multinational company Abengoa has inked a final agreement for the sale its subsidiary, Befesa – an industrial waste unit - to funds advised by Triton, in a move to focus on its water and solar businesses.
The transaction, which is accounted to be around €620m after debts, is expected to be completed during the mid July 2013.
Befesa specializes in the integral management of industrial waste, with plants in Germany, Spain, United Kingdom, France, Sweden, Turkey and South Korea, as well as Chile, Argentina and Peru.
In addition, Abengoa is constructing an advanced biofuel plant in Kansas, which is expected to become operational in early 2014, reports the bloomberg.com.
Meanwhile, the Triton funds are advised by dedicated teams of investment professionals based in Jersey, London, Germany, Luxemburg, China and Sweden.