Waste firm Urbaser has been sold by its Spanish owner Actividades de Construccion y Servicios (ACS).
Firion Investments, a company controlled by a Chinese group, has agreed a deal with ACS for its total stake in the waste company’s Spanish parent company Urbaser.
A statement from ACS says the price agreed for the sale is between €1.16bn (£1bn) and €1.40bn, with the business valued between €2.21bn and €2.46bn.
It says the added value of the transaction is estimated to be between €325m and €560m.
The sale is subject to customary approvals in this type of operation.
Urbaser’s contracts in the UK include its £500m Javelin Park energy-from-waste scheme with Balfour Beatty in Gloucestershire (pictured), construction of which began in July. It also holds contracts for recycling collections and waste treatment services.