Watchdog clears waste PandaGreen’s €12m purchase of Bioverda

Waste company gets approval to buy energy business from US fund Cerberus

PandaGreen, part of the Panda Waste Group, is buying Bioverda from US fund Cerberus for a reported €12 million. Photograph: Bryan O’Brien

PandaGreen, part of the Panda Waste Group, is buying Bioverda from US fund Cerberus for a reported €12 million. Photograph: Bryan O’Brien

 

The mergers watchdog has cleared waste company PandaGreen’s €12 million purchase of energy business Bioverda.

PandaGreen, part of the Panda Waste Group, is buying Bioverda from US fund Cerberus for a reported €12 million.

Bioverda burns the gas produced by dumps to generate electricity, which it sells through the national grid.

The company was once part of NTR and subsequently Greenstar. It was established to exploit opportunities offered by biofuels and waste-to-energy businesses.

The Competition and Consumer Protection Commission said on Wednesday that it has approved the deal, which required the regulator’s backing because of the scale of the two businesses involved.

PandaGreen was formed from the merger last year of Panda and Greenstar’s waste collection division.

The commission ordered the enlarged group to sell some of its Dublin operations to rival Greyhound as a condition of allowing the pair to join forces.

PandaGreen owns no other energy-related businesses. Bioverda’s sites are said to to generate about 20 megawatts of electricity.