Renewi plc (GB:RWI) has released an update.
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Renewi plc has finalized a deal to sell its UK Municipal business to waste management firm Biffa, a move expected to enhance Renewi’s cash flow and profit margins while focusing its operations on the European recycling markets. The transaction is set to boost Renewi’s free cash flow by €15-20 million annually and expand EBIT margins by approximately 50 basis points. The divestment aligns with Renewi’s strategic shift towards growth in the Benelux region and is anticipated to be completed by the end of 2024, pending regulatory approvals.
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