The construction company reported that regulatory clearances have been obtained and that it will now also hold SUMA shares in Angola, Brazil, Mozambique and Oman.
Mota-Engil on Monday announced the completion of the entire purchase of SUMA from Urbaser, which was announced in March, due to “regulatory authorizations being obtained and conditions precedent being met,” the statement said.
In return, the construction company is selling its subsidiaries in the industrial sector, previously owned by SUMA, which will now be wholly owned by Urbaser, through a new vehicle company called Industrial Waste NewCo.
Urbaser is the parent company of an international group operating in the urban services, waste treatment and water management sectors, headquartered in Spain and controlled by Platinum Equity, an American international investment firm.
The Portuguese construction group therefore now fully owns SUMA, its holdings in the urban collection and services sectors, the waste treatment and recovery sectors, and international subsidiaries in Angola, Brazil, Mozambique and Oman.
“For Mota-Engil, the completion of the acquisition announced today will allow it to accelerate the implementation of its strategic plan, which is to internationalize its environmental business, supported by its extensive knowledge and international presence, and to maintain its firm commitment to the development and technological modernization of the environmental sector in Portugal and in the international markets in which it operates.” “, says the company led by Carlos Mota dos Santos.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
