Recent reports that lenders to Biffa were in the process of taking control of the UK waste management company are untrue, according to people close to the matter.

The company's owners, Montagu Private Equity and Global Infrastructure Partners, are continuing to try to sell the business, while Biffa continues to work on a restructuring with its lenders, the people said. Weekend press reports claimed that Biffa's lenders, led by HSBC, were set to seize control of the company.