The takeover of AEB Amsterdam by AVR will not go ahead. The Netherlands Authority for Consumers and Markets (ACM) did not approve the takeover, which the authority says distorts competition in the waste market in The Netherlands. As a result, the sale to AVR cannot go ahead.
AEB Director Michel Frequin is disappointed: 'AEB was looking for a new shareholder with knowledge of the market and a long-term vision on sustainable waste processing. With AVR we had obviously found such a partner. It weighs heavily on us that it is now not going ahead.' Frequin outlines the consequences of the course of events for AEB. 'The takeover was announced in December 2021. We understand the due diligence the ACM wanted to exercise in an apparently difficult case. But meanwhile, our colleagues have had to deal with a year and a half of uncertainty.' That is why it is important to clarify the future of AEB as soon as possible. 'It’s now up to our shareholder, the municipality of Amsterdam,' says Frequin. 'Board and city council must decide how to proceed next. We are confident of a sensible outcome.'
Frequin thanks AVR's colleagues and all those involved at the municipality of Amsterdam for their efforts to make the takeover a success. 'In addition, a big compliment goes out to all AEB Amsterdam employees. They have kept their eyes on the ball in the underlying time period, which has been full of uncertainty. The city, our customers and our partners can continue to count on their relentless efforts in the time ahead.'