Amsterdam has officially halted its attempt to sell waste processing company AEB.
Belgian waste processor Indaver, a subsidiary of Antwerp-based Katoen Natie, appeared to be the frontrunner last autumn, but negotiations ultimately collapsed.
According to Amsterdam alderman Reinier van Dantzig, Indaver’s offer was deemed unacceptable, particularly due to insufficient environmental guarantees.
Four failed sale attempts
The cancellation of the sale to Indaver marks the fourth unsuccessful attempt by the city to divest AEB. In a previous attempt, Afvalverwerking Rijnmond (AVR) sought to acquire the company for 450 million euros, but that deal was blocked by the Dutch Authority for Consumers and Markets (ACM) over competition concerns. Other previous candidates, such as the Beelen Group and HVC, also failed to acquire AEB.
The municipality of Amsterdam has stated that there will be no new sales plans for the next ten years and that it will remain a shareholder for the foreseeable future. AEB, which is Europe’s largest waste incinerator with a capacity of 1.4 million tons, will have to comply with the Dutch government’s stricter environmental requirements. The national government aims to significantly reduce waste incineration and increase recycling efforts, a trend that has major implications for the sector.
Indaver chairman Paul De Bruycker told Het Financieele Dagblad that he was disappointed by Amsterdam’s decision but suggested that expectations regarding the sale price may have been too high. He emphasized that the discussions ended amicably. The Belgian waste processor remains actively looking for expansion opportunities in the Netherlands but is also exploring growth prospects in Belgium, France, and the United Kingdom.
