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Investing.com -- Triton Partners, a buyout firm, has acquired a stake in Befesa SA (ETR:BFSA), a waste recycling firm listed on the Frankfurt stock exchange, according to a report from Bloomberg, citing sources.
This move marks Triton’s return to Befesa after more than five years since its departure. Currently, Triton’s stake in Befesa is less than 5%, according to sources who wished to remain anonymous due to the confidential nature of the information.
Befesa’s shares have seen a 20% increase this year, bringing the company’s market value to approximately €1 billion ($1.1 billion). However, the exact size of Triton’s stake in Befesa remains unknown. Triton is known for regularly acquiring small positions in listed companies, but it is unclear whether this investment in Befesa will result in Triton increasing its stake or making a takeover offer.
Both Befesa and Triton have chosen not to comment on the matter.
Befesa, based in Luxembourg, primarily provides recycling services for steel dust and aluminum salt slags. Triton originally purchased Befesa from the Spanish industrial conglomerate Abengoa SA in July 2013. Triton then listed Befesa in November 2017 and gradually exited its investment through block trades in 2018 and 2019, as per the information on its website.
Triton primarily invests in mid-market companies in the sectors of industrial technology, business services, and healthcare.
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