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Pennon agrees Viridor sale

The group is set to sell its waste management business to US private equity for £4.2bn
Pennon agrees Viridor sale

Pennon (PNN) has announced that it will be selling its waste management business, Viridor, to US private equity group Kohlberg Kravis Roberts (KKR) for an enterprise value of £4.2bn. The price tag is more than 18 times adjusted cash profits recorded by Viridor last year. Subject to shareholder approval and clearing regulatory hurdles, the deal is expected to complete in the summer.

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