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UK waste firm Biffa agrees to Energy Capital Partners' $1.41 billion buyout deal

Reuters
·1-min read
The logo of waste management company Biffa is seen on a large wheelie bin outside a pub in London

(Reuters) - Biffa Plc has agreed to be taken over by private equity firm Energy Capital Partners (ECP) in a deal valuing the British waste-management company at about 1.3 billion pounds ($1.41 billion), the companies said on Tuesday.

The 410 pence per share deal, which comes nearly three months after Biffa first announced that it was approached by ECP, will be backed by the board, Biffa said in a statement, adding that it considers to terms to be "fair and reasonable".

($1 = 0.9234 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)