(Alliance News) - JLEN Environmental Assets Group Ltd on Monday said it has become the sole owner of Bio Collectors Holdings Ltd, acquiring the remaining 30% stake for GBP8.0 million.
The Guernsey-based environmental infrastructure investment fund originally purchased a 70% shareholding in BCH in December 2019. At the time JLEN agreed that following the expiry of an initial holding period, it would buy the remaining 30%.
JLEN on Monday said that the takeover increases its exposure to an attractive investment, and grants JLEN the opportunity to deliver operational synergies across its portfolio of anaerobic digestion food plants.
Surrey, England-based BCH holds the rights and operational assets comprising the Codford food waste AD plant in Wiltshire, England, as well as the Bio Collectors waste collections business. The plant, which mainly produces biomethane, was commissioned in 2013.
JLEN said both BCH and Codford stand to benefit from a recent announcement by the UK government's Department for Environment, Food & Rural Affairs. Under the new guidance, local authorities in England will be required to introduce separate food waste collections for businesses by March 31, 2025, and for households by the same day in 2026.
Shares in JLEN Environmental Assets were down 0.3% at 96.98 pence in London early on Monday.
By Emma Curzon, Alliance News reporter
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