ALBA Group, Interseroh Take Step Toward Merger

After what it calls an in-depth consultation, the board of directors of Interseroh SE has approved a pooling agreement with ALBA Group of companies. The proposal was made by Isabell Finance Vermögensverwaltung GmbH & Co., a part of Germany-based ALBA.

The pooling arrangement is part of a procedure in advance of a merger between the two Germany-based companies.

Joachim Wagner, a board member of Interseroh, says, “Both group companies will be able to combine their market presence into a single and effective unit, and the agreement will simplify many of our processes. It will enable us to better exploit the considerable potential for growth that the global market for recycling and raw materials trading offers.”

The profit and loss pooling agreement requires the approval of the Interseroh SE general meeting, which is expected to be held during the first half of 2011.

The ALBA Group already owns around 75 percent of Interseroh. The company has 200 locations throughout Germany, as well as 10 other European countries. The company is involved in all facets of waste management, including recycling.

Interseroh is focused on the recycling industry, especially scrap metal.