Essent Milieu auction scrapped

Aside from the low bids, other issues affected their decision to scrap the process, among which were policies regarding employees.

The sale, which has been in the news since late last year, was initially thought to reach above the €1bn mark, but by Q2 this year estimates were down to €600-700m. The auction went on until early June.

Only two runners remained in the race, US waste firm Covanta and the all-Dutch financial consortium comprised of ABN AMRO Infrastructure Capital Management, NIBC Infrastructure Partners, and Dutch pension funds ABP and PGGM.

In May, UK private equity firm BC Partners dropped out of the auction while PAI partners had done so earlier on.

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