Van Gansewinkel Groep

Investors

Essent, the Dutch waste management company, has divested its 45% share in Van Gansewinkel Groep (VGG). Current shareholders De Raekt, a Dutch venture firm owned by LGM van Gansewinkel, were joined by ING Corporate Investments Participaties (ING CIP), the venture capital arm of ING Group, forming Gansewinkel Holding, which now holds 100% of equity in the newco. De Raekt remain the major shareholder with 80%, ING CIP hold the balance. The transaction completed on 14 January 2005. No financial details, including debt provision, have been disclosed.

Until the end of the 1990s, De Raekt was the sole shareholder in VGG with 55% before this transaction completed. Essent acquired 25% and 20% of the company's shares in 1998 and 2001 respectively. Following a strategic overhaul, Essent announced in December 2003 that as part of the restructuring of its waste management division to two main activities, the incineration of waste and the management of landfills, it intended to sell off its 45% share.

Company

VGG provides a wide range of waste management and related services for both hazardous and non-hazardous waste. The company is primarily active in the Netherlands and Belgium, but also has operations in the Czech Republic, Poland, Luxembourg and Portugal. The company generates a turnover of E525m and employs 4,000 people.

People

Mr L M Sondag remains CEO of VGG.

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