LONDON - Macquarie Asset Management has confirmed the extension of the irrevocable undertaking from Avenue Europe International Management LP regarding their possible offer for waste management company Renewi plc. The commitment from Avenue Europe, which advises funds and entities voting in favor of Macquarie's final possible offer, will now hold until 5 p.m. London time on March 31, 2025.
The original announcement of the potential acquisition was made on November 28, 2024, when Macquarie, representing various funds managed by Macquarie Infrastructure and Real Assets (Europe) Limited and its affiliates, outlined the terms of the offer for Renewi. This extension signals continued negotiations and the intent of both parties to reach a firm agreement within the newly specified timeframe.
Avenue Europe's commitment is contingent upon Macquarie announcing a definitive intention to make the offer by the March 2025 deadline, which can be further extended if both Macquarie and Avenue Europe mutually agree.
This development is part of a series of maneuvers in the infrastructure and real assets sector, where acquisitions often involve complex arrangements and significant shareholder agreements. Investors and market watchers will be keeping a close eye on the unfolding situation, as a successful bid could impact the waste management industry in Europe.
The information regarding the extension of the irrevocable undertaking is based on a press release statement from Macquarie Infrastructure and Real Assets Ltd. and does not include any speculative or promotional content. The details provided aim to offer clarity to investors and stakeholders about the current status of the potential acquisition of Renewi by Macquarie.
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