Ballast Nedam completes asset sale with Bencis, calls off H2 deal

Bencis has acquired CNG Net, LNG24 and CNG Net Realisatie en Onderhoud, creating a new company, European Clean Fuel Company (ECFC), from the former Ballast assets.

The new business, headquartered in Nieuwegein in the Netherlands, is an operator of compressed natural gas (CNG) and liquefied natural gas (LNG) filling stations. ECFC operates 70 petrol stations across the Netherlands and Belgium, and generates €24m in turnover.

Ballast has also announced that its plans to sell its Rademakers Gieterij, TBS Soest and Recycling Maatschappij Feniks businesses to H2 Equity Partners have fallen through. In June, H2 acquired the UK incinerator bottom ash recycling division, Ballast Phoenix, from Ballast's Recycling Maatschappij Feniks subsidiary.

Together with the sale of Ballast's 30% interest in Beheersmaatschappij Fr Bontrup, the sale to H2 was expected to be worth around €30m. Ballast has not provided an explanation as to why the sale to H2 fell through.

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• Topics
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• Netherlands
• H2 Equity Partners