The Spanish group ABENGOA (applied engineering; net profits of ESP 3.645 billion for the latest fiscal year) has launched a public takeover bid on 75% of BEFESA MEDIO (profits of ESP 2.41 billion in 1999), specialised in the recycling of industrial waste. The bid is for 14.86 euros a share, valuing the group at ESP 57 billion. ABENGOA has already concluded an agreement for the acquisition of the 50.01% shared owned by Germany's BUS, at a cost of ESP 28.4 billion.