First-round offers are due on Dec. 6 for Transpacific Industries Group Ltd's New Zealand waste management unit, which is attracting interest from international private equity firms and trade bidders, Basis Point reported on Wednesday. Suitors are said to include private equity giants Blackstone Group and Carlyle Group, as well as Japan's Orix and New Zealand infrastructure investor Infratil , said Basis Point, a Thomson Reuters publication.There are also a number of smaller New Zealand institutions looking at the asset, but they are not be able to mount solo bids given the relatively large size of the business, Basis Point said, citing a source familiar with the process.Bank funding is not needed during this initial round. Final bids are likely in the first quarter of 2014 after a short-listing process.Media reports have valued the business at NZ$900 million ($737.37 million). Transpacific forecasts full-year 2014 earnings before interest, tax, depreciation and amortisation of around NZ$110 million for the waste business.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.36% or $0.1/share to $28.14. In the past year, the shares have traded as low as $14.32 and as high as $28.73. On average, 4708230 shares of BX exchange hands on a given day and today's volume is recorded at 4065646.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.85% or $-0.32/share to $37.50. In the past year, the shares have traded as low as $26.95 and as high as $38.73. On average, 862143 shares of TRI exchange hands on a given day and today's volume is recorded at 870083.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 1.46% or $-0.58/share to $39.28. In the past year, the shares have traded as low as $26.84 and as high as $40.61. On average, 944080 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1294543.
Waste Management, Inc. (WM) is a provider of waste management services in North America. Shares of WM traded higher by 0.11% or $0.05/share to $45.72. In the past year, the shares have traded as low as $31.79 and as high as $46.38. On average, 1972620 shares of WM exchange hands on a given day and today's volume is recorded at 2082791.
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