Séché Environnement finalises Interwaste acquisition
The deal passes the approval of the competition authority.
French environmental specialist, Séché Environnement Group, has acquired 100 percent of all issued shares of Interwaste Holdings, which has been delisted from the Johannesburg Stock Exchange (JSE).
Séché Environnement first announced its plan to acquire Interwaste on November 2, 2018. After Interwaste shareholders gave their approval on January 9, 2019, the South African competition authorities approved the deal, which was finalized on March 4, 2019 with the transfer of 100 percent of the shares to Séché Environnement, and Interwaste’s delisting from the JSE.
The acquisition will see Séché Environnement and Interwaste develop new environmental and waste management solutions in the Southern African region.
“The two companies share one culture and one philosophy. I'm sure we will work well together. Just like Interwaste, Séché Environnement is a family-owned business built on strong values: respect for its employees, a focus on transparency, and the importance of promoting sustainable growth,” Alan Willcocks, CEO of Interwaste, said in a statement.
“Séché Environnement stands out for its capacity to provide high-level services to its clients, particularly for treating complex hazardous waste that requires cutting-edge technology.”
Séché Environnement currently operates in 15 countries with nearly 2400 employees, mostly in Europe and South America.
“Each of the 15 countries in which we are currently operating has its own regulatory approach. We are well aware of our social responsibility, and we will fully support Broad-Based Black Economic Empowerment (B-BBEE) in South Africa. Séché intends to adhere to the B-BBEE principles, thus doing its part to promote equality in South Africa,” notes Maxime and Guillaume Séché, sons of Joël Séché, founder and CEO of Séché Environnement.