Feb 12 (Reuters) – Privately-held Platinum Equity has agreed to sell Spanish waste management company Urbaser to Blackstone and EQT for $6.6 billion, the company said in a statement on Thursday.
Platinum Equity will retain ownership of Urbaser’s waste management business in Argentina, it said.
Blackstone and EQT will acquire equal 50% stakes in Urbaser and jointly manage the company, the two buyout groups said in separate statements.
Based out of Madrid, Spain, Urbaser specializes in waste management including municipal and industrial waste, with operations in 15 countries, according to its website.
Blackstone and EQT said they will support Urbaser in continuing its expansion in the industrial waste segment, while further strengthening core municipal waste operations.
Platinum Equity bought Urbaser in 2021 from China Tianying in a deal valued at $4.2 billion including debt.
Citi and Santander advised Platinum Equity on the sale.
(Reporting by Ananya Palyekar in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
