A private equity consortium that has offered ã1.8bn (â¬2.4bn) for UK waste management company Biffa has included a cash component of almost 40% in the latest sign of the declining trend for highly leveraged buyouts.
UK firm Montagu Private Equity and Global Infrastructure Partners, a fund with cornerstone investments from Credit Suisse and General Electric, have offered 350p per share for Biffa which values the fully diluted share capital of the business at about £1.2bn.
