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Agreement on Genan’s future now in place

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Danish pension fund PKA, accountancy firm Deloitte and a group of four bank lenders have signed an agreement to secure the future of tyre recycling company Genan. This agreement aims to safeguard jobs and ensure Genan’s continued existence. At the same time, a new chairman of the Genan Board of Directors has been instated.

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PKA buys out Genan founder – but has it been duped?

Bent Nielsen is no longer a shareholder in the tyre recycling company he set up after Denmark’s PKA (Pensionskassernes Administration A/S) acquired his 52 per cent stake in Genan yesterday; with this added to its existing 48 per cent share, Genan is now firmly in the pension fund administrator’s hands – but today PKA allegedly claimed that both Genan and Nielsen have duped it over a number of years.

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Related news:

  1. Agreement on Genan’s future now in place
  2. Genan acquires BioSafe tyre recycling plant
  3. Genan loss may be more than £100 million
  4. Pyrolysis technology: Michelin partnering with Enviro
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