FCC, ICON enters agreement for sale of interest in Green Recovery Projects Limited (GRP)

FCC Group and Icon Infrastructure Partners (ICON), have reached an agreement for the latter to acquire 49% of the capital of FCC's new subsidiary, Green Recovery Projects Limited (GRP), for a deal worth GBP198 million (US$259.09 million). 

FCC Servicios Medio Ambiente Holding will retain control over the new subsidiary and its full consolidation, in addition to 50% of the shareholding in the Mercia incinerator and 40% in the Lostock incinerator.

GRP owns the energy from Waste (EfW) plants located in Kent, Nottinghamshire, Buckinghamshire, Edinburgh, and Lincolnshire.

The conclusion of the agreement is subject to the corresponding regulatory approvals.