12th May 2006 09:00
Severn Trent Plc announces today that it has agreed to sell Biffa Belgium toVeolia Environmental Services for ¢â€š¬45m, approximately ‚£31m. It is expected tocomplete the transaction, which is conditional on clearance from the Belgiancompetition authorities, before the end of June 2006.Severn Trent announced on 4 April 2006 that it intended to demerge the Biffawaste management business in the UK by the end of the year and that it wasconsidering options for Biffa Belgium, including possible disposal.For further information contact:Peter GavanDirector of Corporate AffairsSevern Trent Plc0121 722 4310David Trenchard / Peter HewerTulchan Communications Group Ltd020 7353 4200Footnotes:1. Biffa is a leading integrated waste management business in the UK, providingcollection, recycling, treatment and landfill and special waste services toindustrial / commercial clients and to local authorities.2. Severn Trent Plc announced on 4 April 2006 that it intended to demergeBiffa. The announcement is available at www.severntrent.com.3. Severn Trent's pre-close trading update on 4 April 2006, prior to its fullyear results on 6 June 2006, announced that Biffa Belgium is expected to recorda small operating loss in the second half. This second half performance,together with a full year operating provision for environmental taxes of ‚£4.5m(H1 ‚£3.1m), is expected to lead to a full year PBIT loss for Biffa Belgium ofaround ‚£4m to ‚£5m.ENDSEVERN TRENT PLCRelated Shares:
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