Updated 10/28/2022: Less than a year after waste-to-energy provider Covanta Holding Corporation for $5.3 billion, Covanta announced (in April, 2022) that it planned to carve out its European operations from Covanta Holding Corporation, creating a standalone Waste-to-Energy platform in Europe.
Covanta’s European platform is a leading owner and operator of Energy-from-Waste facilities, including three operational facilities and three in construction in the UK, Ireland and Italy, the companies said.
Since then, the company also acquired (in August of 2022) Biologic Environmental Services and Waste Solutions, a California-based environmental management firm offering comprehensive waste management services. This was its latest in a series of acquisitions since the purchase by EQT.
These acquisitions are providing “numerous avenues for growth,” the company says, diversifying its customer offerings and expanding the areas in which it operates.
The company says that since 2009, it has reduced emissions at its Waste-to-Energy facilities by up to 50%. We pledge to further reduce emissions, prioritizing environmental justice communities through the implementation of five projects by 2023.
Read on for the original article from 7/14/2021
EQT will acquire waste-to-energy provider Covanta Holding Corporation for $5.3 billion, the companies said on Wednesday. The deal will help the company expand and deliver on its goal of “building a sustainable future for all stakeholders,” says Michael Ranger, Covanta’s president and CEO.
EQT will purchase all shares of common stock for $20.25 per share. The purchase price represents an approximate 37% premium to Covanta’s unaffected share price of $14.78 on June 8th — the day prior to initial media speculation of a transaction. The deal is expected to close in the fourth quarter of this year.