September 29, 2016 / 7:31 AM / 3 years ago

Shanks Group, recycler Van Gansewinkel agree on deal terms

(Reuters) - British waster manager Shanks Group Plc SKS.L said it had agreed terms to buy Dutch recycler van Gansewinkel Groep BV, paving the way for the combined company to become a leader in the Benelux region.

According to terms agreed upon by both companies, Shanks would buy van Gansewinkel for 482 million euros ($540.80 million), on a debt-free cash-free basis.

The terms agreed upon by both companies are identical to Shanks’ statement earlier this month.

On Thursday, Shanks said its trading was in-line with current expectations and that its performance in the Benelux region was strong.

($1 = 0.8913 euros)

Reporting by Vidya L Nathan in Bengaluru, Editing by Sunil Nair

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