Kalkine: Renewi Departs Markets After Acquisition Completion, Impact Reflected in ft100 futures

Highlights

• Renewi plc shares have been officially delisted from LSE and Euronext following a completed acquisition

• The acquisition was carried out through a court-sanctioned scheme under the UK Companies Act

• The transaction involved Earth Bidco B.V., backed by entities linked to Macquarie and BCI

Renewi plc (LON:RWI), a company engaged in waste-to-product solutions, has formally concluded its presence on public markets. The shares of the firm have been delisted from the London Stock Exchange and Euronext Amsterdam, in line with a completed acquisition by Earth Bidco B.V. This development affects the company’s alignment with broader market indexes including the FTSE All-Share Index and has been noted by movements in ft100 futures.

The transaction was executed through a court-sanctioned scheme of arrangement under the UK Companies Act 2006. The implementation of this scheme took effect recently, leading to the cessation of share trading on both listed exchanges. The acquisition process has removed Renewi from public equity trading platforms, placing the firm under private ownership.

Consortium Details and Strategic Control

The acquisition was led by Earth Bidco B.V., a special-purpose entity backed by Macquarie European Infrastructure Fund 7 SCSp, which is managed by Macquarie Asset Management Europe S.à r.l., and BCI UK IRR Limited, a company indirectly owned by the British Columbia Investment Management Corporation. These entities now assume strategic control over Renewi, transitioning the company’s governance to a private framework.

The transaction had been documented in a formal scheme document released earlier this year. This outlined the procedural and legal steps involved in the acquisition, which included court approval and shareholder agreement. The operational direction of Renewi is now subject to decisions made by the new consortium ownership.

Timeline and Legal Formalities

The last trading session for Renewi shares (LON:RWI and EPA:RWI) occurred at the beginning of the week. The shares were officially removed from the exchanges at market open on the day of the delisting. The legal framework under which this transition occurred ensured regulatory compliance and marked the completion of the transaction.

Corporate advisers played a role in facilitating the process, supporting both Renewi and the acquiring consortium. Financial and legal arrangements were handled without public disclosure of the financial terms involved. The transition concluded in accordance with the detailed terms set out in the scheme arrangement.

Sector Implications and Operational Direction

Renewi operates within the environmental services sector, focusing on waste collection, recycling, and resource recovery. With the shift to private ownership, the company exits public scrutiny and is now positioned for strategic realignment under its new backers. The environmental services industry continues to experience structural changes, with increased interest in sustainable waste management practices.

This acquisition and the subsequent delisting represent a notable development within the sector. The move also adjusts the composition of relevant market indexes, impacting sectors connected to waste transformation services. Changes in equity structure have been reflected in broader index-linked products, including slight shifts observed in ft100 futures activity.

Market Ticker References and Index Adjustment

The company was previously listed under LON:RWI on the London Stock Exchange and under EPA:RWI on Euronext Amsterdam. With the delisting now effective, Renewi’s removal from the FTSE All-Share and related indexes is complete. This adjustment has been part of broader rebalancing activities following corporate acquisitions in the UK-listed space.

This change in Renewi’s status underlines the dynamic nature of the environmental services industry, where corporate ownership transitions continue to reshape public market composition.