VEAT Notice intention to modify a contract for waste disposal services

On 31 July 1998, Devon Waste Management Limited entered into eight contracts with Devon County Council (DCC) for the disposal and processing of waste in eight district council areas. The waste disposal agreements in respect of the Exeter City Council area, East Devon District Council area, Teignbridge District Council area and Mid Devon District Council remain in force (together, the 1998 Agreements). The rights and obligations of Devon Waste Management Limited under the 1998 Agreements were subsequently transferred to Viridor Waste Management Limited (now renamed Valencia Waste Management Limited) (VWML). On 3 October 2011, the 1998 Agreements were varied by deed (the Modification Order) so that waste previously sent to landfill under the 1998 Agreements could be thermally treated. Pursuant to a deed of variation dated 13 January 2020, the Modification Order was updated to include a fourth waste disposal contract in respect of the Mid Devon District Council area. The 1998 Agreements and the Modification Order are together referred to as the "DCC Contract". Viridor Limited has recently undertaken an internal restructure of its divisional business functions with the creation of three businesses - an Energy business, a Polymers Recovery business and a separate Waste business. As part of this internal reorganisation of the Viridor group of companies, it is intended that the DCC Contract will sit within Viridor Limited's Energy business and so Viridor Limited, VWML and DCC agreed that (pursuant to the terms of the DCC Contract) VWML will novate its rights under the DCC Contract to Viridor Exeter Waste Services Limited ("VEWSL") by way of a deed of novation (the "Deed").