Latest news with #Urbaser
Bloomberg
18-06-2025
- Business
- Bloomberg
Earnings Tweak for Tariffs Draws Scrutiny to Urbaser's Debt Sale
Spanish waste management company Urbaser SA has removed a clause from deal documents that would have allowed it to exclude the impact of the US trade war from its earnings, according to people familiar with its debt sale. Urbaser, which is owned by private equity firm Platinum Equity, is seeking to raise €2.3 billion ($2.7 billion) in fresh debt from investors. An offering memorandum seen by Bloomberg included a provision that would have allowed it to tweak Ebitda, or earnings before interest, tax, depreciation and amortization, to exclude the impact of tariffs.
Daily Tribune
04-06-2025
- General
- Daily Tribune
Southern Municipality Welcomes Eid Al-Adha with Festive Lights and Community Clean-Up Drive
The Southern Area Municipality has launched a series of beautification and cleaning initiatives across key areas of the governorate. As part of its annual tradition, the municipality has installed illuminated decorations at the iconic Clock Roundabout, replaced old flags with new ones, and ramped up cleaning efforts at memorials and along major roads. In coordination with the Sunni and Jaffari Endowments Directorates and cleaning services provider Urbaser, the municipality has also carried out special cleaning campaigns targeting mosques, prayer halls, and designated Eid prayer areas. These efforts reflect the municipality's commitment to ensuring the comfort of worshippers, especially during religious occasions. To meet the increased demands, the municipality has deployed additional cleaning staff, provided necessary equipment and machinery, and carried out extensive washing and sanitizing of mosque courtyards and surrounding pavements. The Southern Municipality reaffirmed its ongoing commitment to maintaining cleanliness across all areas, especially during religious, social, and national events, in line with its
Time of India
30-05-2025
- Business
- Time of India
North Chennai Waste Privatisation Delayed After Urbaser Pulls Out from Race
Status: Not Approved Byline: None Chennai: The Rs 2,300 crore project to privatise waste management in the Royapuram and Thiru Vi Ka Nagar zones is now stuck for nearly four months, more than a year from the day of the announcement. The latest hindrance for the project is that solid waste management giant Urbaser, a Spanish firm that came as L1 in the tenders, pulled out from the race, officials said. Urbaser Company CEO Mahmood Sait said they pulled out from the race as the company is getting new international investors. "The new investors do not want to participate in the tenders at this moment," he said. Now, GCC is negotiating with the second lowest bidder, Ramki Enviros, to match the lowest bid. Ramki, which is handling the waste in the Thiruvottiyur, Manali, and Madhavaram zones, will handle the entire north Chennai, with the beaches from Thiruvottiyur to Marina. GCC Commissioner J Kumaragurubaran said they encashed the earnest money deposit. "We are negotiating with the second bidder. It will be finalised within this month," he told TOI. Due to these delays, residents are daily grappling with poor quality service in these areas, which generate about 1,000 tonnes of waste daily. Permanent staff have been absent for weeks now in these zones. "The streets are filled with uncollected waste. The staff turn up only once a week. They are not working as it's a matter of time before they will be shifted to Anna Nagar or Ambattur zones managed by GCC," said R Avinash, a resident of Old Washermenpet. ENDS MSID:: 121520927 413 |
