EdF to dump Austrian waste arm
Thursday, October 6, 2005, 11:18
Electricité de France (EdF), the state-owned French power supplier, is selling ASA AG, its Austrian waste management subsidiary in a move that could radically reshape the Hungarian waste management market, business daily Világgazdaság reported. ASA, which consists of 65 affiliates, among them several Hungarian, will be sold in a public tender before year-end. A dominant player on the domestic market, ASA operates regional waste management businesses in Gyál, outside Budapest, Debrecen, Hódmezővásárhely (south-east Hungary) and Győr, which registered unconsolidated revenues of over Ft 5 bln last year and has some 700,000 residential clients. The planned sell-off in line with a series of restructuring efforts by international electricity companies aimed to divest their waste management assets they acquired 10-12 years ago, said Attila Martin, managing director of ASA Hungary Kft.