Essbio acquisition to help develop local waste treatment sector, says DNB

Tuesday, December 13, 2011

Chilean water utility Essbio's recent acquisition of waste treatment and disposal firm Hera Ecobío, part of Spain's Grupo Hera holding, will help Chile's waste treatment sector to become more sophisticated and transparent, according to Pablo D'Agliano, local managing director for corporate finance in Chile and Peru at Norway's DNB Markets.

"[In Chile's waste treatment sector], you need serious players that are accountable. For instance, in the case of Hera Ecobío, you can be certain that its actions will be serious and have high standards because of the reputation that Essbio has to maintain, being a very regulated company with a very strong owner and strong corporate governance," D'Agliano told BNamericas.

DNB served as financial advisor in Essbio's acquisition of Hera Ecobío. The 12bn-peso (US$23.2mn) deal was completed on November 14.

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The bank is also active with four other M&A advisory assignments, and continues to look for future opportunities, the executive added.

The Norwegian bank has been present in Chile for over three and a half years, launching its investment banking unit DNB Markets in April 2011.