Municipality of Amsterdam launched the sale of AEB

Today the Municipality of Amsterdam has launched the sale of its 100% equity stake in AEB. The announcement follows the Go-decision of January 12th 2021 by which the municipality of Amsterdam determined the starting points for the sale.

Paul Dirix, CEO of AEB commented: “The start of this process marks a new stage in AEB’s development. The company has put the turbulence of recent years behind it and now has a strong financial and operating basis. Given the current market conditions, therefore, we are confident we will be able to find a new shareholder willing to commit to AEB’s long-term future. I would expressly like to thank all of AEB’s employees for their efforts. Thanks to them, AEB has made significant progress in improving and strengthening the installations and organization over the past year. We are now looking to the future again with confidence. Together with a suitable new owner, AEB will be able to continue along its upward path successfully, in the interest of its customers, the employees and all of AEB’s other stakeholders.”

The municipality is selling 100% of the AEB shares, including the company’s subsidiaries. These comprise the AEB Bio-energiecentrale BV, which operates the new biomass plant, and AEB Exploitatie BV, the waste-to-energy company. AEB also holds a 40% stake in Recycling Service Centrum BV, which combines social employment opportunities and recycling. AEB’s former 50% stake in Westpoort Warmte (the district heating network operating in the western part of the city) was acquired by the municipality of Amsterdam on March 1^st 2021. 

Parties can register their interest until 17.00 (CET) on May 17th 2021 with AXECO Corporate Finance B.V. at aeb@axeco.nl to receive more information about the sales process and the pre-qualification phase. 

For more information, see the press release of the Municipality of Amsterdam about the start of the sale.