There is finally a buyer for the waste processor that has been plagued by problems.
The Belgian environmental group Indaver, owned by the port company Katoen Natie in Antwerp, wants to take over waste incinerator AEB. Various media in the Netherlands and Belgium report this.
AEB owns the largest waste processing plant in Europe. The company has a processing capacity of 1.4 million tons. The company also has a biomass power plant and a minority interest in a recycling plant.
Disaster company
But for the municipality of Amsterdam it counts as a disaster company. Due to technical problems, the power plant came to a standstill repeatedly. The capital's waste processing was even endangered and the municipality had to pump tens of millions of euros into it to solve the problems. AEB has caused Amsterdam more than 100 million euros in losses.
To make matters worse, Amsterdam is unable to get rid of this daughter. The company has been in the shop window for more than five years. Many buyers signed up, but many dropped out. Sometimes they did not meet the requirements, others withdrew.
Torpedoed by ACM
Once there was a deal, it was torpedoed by the Dutch regulator ACM. For example, the takeover by the Rotterdam waste processor AVR for 400 million euros was prohibited by the ACM. The combination would become too large a player on the Dutch market.
According to reports, Indaver has less money left for AEB. The Belgian company is also active in the Netherlands, but has a very limited capacity for incinerating non-recyclable waste. The company has international allure. An acquisition has already been made in Ireland. Deals in England failed due to the complex licensing system of our western neighbors. In Belgium, Indaver is at odds with environmental groups.
Decision in November
A deal with AEB is not yet certain, because discussions are still ongoing with other parties. Bids may still follow, after which the municipal council will have to decide on the sale next month. The municipality still has an outstanding loan with AEB of almost 200 million euros.
