Severn Trent Plc announces today that it has agreed to sell Biffa Belgium to
Veolia Environmental Services for €45m, approximately £31m. It is expected to
complete the transaction, which is conditional on clearance from the Belgian
competition authorities, before the end of June 2006.
Severn Trent announced on 4 April 2006 that it intended to demerge the Biffa
waste management business in the UK by the end of the year and that it was
considering options for Biffa Belgium, including possible disposal.
For further information contact:
Peter Gavan
Director of Corporate Affairs
Severn Trent Plc
0121 722 4310
David Trenchard / Peter Hewer
Tulchan Communications Group Ltd
020 7353 4200
Footnotes:
1. Biffa is a leading integrated waste management business in the UK, providing
collection, recycling, treatment and landfill and special waste services to
industrial / commercial clients and to local authorities.
2. Severn Trent Plc announced on 4 April 2006 that it intended to demerge
Biffa. The announcement is available at www.severntrent.com.
3. Severn Trent's pre-close trading update on 4 April 2006, prior to its full
year results on 6 June 2006, announced that Biffa Belgium is expected to record
a small operating loss in the second half. This second half performance,
together with a full year operating provision for environmental taxes of £4.5m
(H1 £3.1m), is expected to lead to a full year PBIT loss for Biffa Belgium of
around £4m to £5m.
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