EEW is being sold by EQT, a Swedish private equity group of 18 funds with €29 billion in raised capital.
According to sources, three Chinese state-owned companies are among the bidders interested in EEW:
The transaction could be closed for a total consideration estimated to be between €1.5 billion (US$1.6 billion) and €2 billion (US$2.13 billion).
EEW operates a total of 19 waste incineration plants, which produce electricity, district heat and process steam. 13 of the 19 plants are majority owned by EEW and six are operated by EEW under long term agreements.
The waste to energy firm produces around 1,900 GWh of electricity and 3,000 GWh of heat or steam which is typically sold under long term contracts to local utilities or directly to end customers. The revenues come from waste gate fees, plant operatorship services and energy sales.