UK waste-to-product company Renewi to sell Canadian operations to Dutch investment firm Convent Capital

MILTON KEYNES, UK, June 17, 2019 (Press Release) -Renewi plc is pleased to announce that it has reached a binding agreement to sell its Canadian operations ("Renewi Canada") to Convent Capital ("Convent"), an independent, sustainability-focused, Dutch investment firm based in Amsterdam, for an enterprise value of up to CAD 107.5m (approximately €72m) (the "Transaction").

Upon completion, Renewi will receive initial cash consideration of approximately CAD 84m (approximately €56m, £50m1)2. Following completion, Convent will, with the assistance of Renewi, seek additional project financing for Renewi Canada's operations, the successful execution of which will result in further consideration payable to Renewi up to ...

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