Renewi plc (GB:RWI) has released an update.
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Renewi plc, a leading European waste-to-product company, has successfully sold its UK Municipal operations to Biffa Limited, a move that will improve the Group’s balance sheet, increase annual cash flow, and allow a sharper focus on its core recycling business in continental Europe. This strategic divestment is expected to enhance Renewi’s EBIT margin and contribute to its goal of promoting the circular economy. The transaction also aligns with Biffa’s expertise in sustainable waste management and is accompanied by a capital injection of approximately £125 million.
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