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US-based private equity fund manager Acon Investments has completed its acquisition of Colombia's Grupo Sala for its Latin America Opportunities fund (Alaof).
Acon completed the purchase in partnership with Humberto Rodriguez Cobo, founder and CEO of Grupo Sala, one of Colombia's leading waste management firms, Acon said in a release.
The shares were acquired from US firm Raygar and Spain's Urbaser, which together controlled a total 51.8% of the company.
Grupo Sala serves 650,000 customers across 11 cities and stands alone in providing incineration services and secure landfills that meet domestic and international environmental standards, the release said.
The company also provides industrial and medical waste treatment and disposal services. As part of the acquisition Acon will fund Grupo Sala's development of industrial waste businesses and the possible development of its waste management business in Bogotá.