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NTR pulls plug on Greenstar sell-off

NTR has backtracked on its decision to sell its waste management subsidiary Greenstar.

According to the Irish Times, NTR was seeking to attract bids above €160m (£136.7m) but failed to do so. When the news broke of a possible sale in March, the business was said to be worth €250m. Investor One51 and resource recovery firm Bord na Mona were both in the bidding process for the firm.

Insiders speculating over why the firm decided to pull the sale of Greenstar said it could be to do with a depressed market in the waste management sector.

A statement from NTR said: “NTR is aware of some speculation regarding its interests in Greenstar UK. The group does not, as a matter of policy, comment on speculation but can confirm that it regularly explores strategic options for different parts of its portfolio of businesses as a matter of course.”

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