Empresa Geral do Fomento privatisation

Overview:

• Empresa Geral do Fomento, a company responsible for municipal solid waste management and treatment activities in mainland Portugal, completed its privatisation. 
• SUMA - Serviços Urbanos e Meio Ambiente, a consortium led by construction company Mota-Engil and Spanish construction and services company Urbaser, was the the winning bidder in the process with an offer of €149.9 million. 
• The consortium beat off bids from seven other countries in the process. 
• The process came as part of a sale of state assets required as one of the conditions of the county's three-year EU/IMF bailout. 

John Crabb - Journalist