Carlyle Group and KKR have advanced in the sale of Transpacific Industries Group Ltd's waste management unit, in a deal that could fetch around NZ$880 million ($725.5 million), people familiar with the matter told Reuters. Australian private equity firm Archer Capital is also among the bidders that have advanced in the auction, the people said.Transpacific Industries, a recycling, waste management and industrial services company, is selling assets in New Zealand to focus on growing its Australian business as part of a broader corporate revamp.Carlyle, KKR and Archer are working with banks to put together debt packages to back their bids, the people said. The three firms declined to comment.
Waste Management, Inc. (WM) is a provider of waste management services in North America. Shares of WM traded higher by 1.22% or $0.53/share to $43.99. In the past year, the shares have traded as low as $33.20 and as high as $46.38. On average, 2143400 shares of WM exchange hands on a given day and today's volume is recorded at 3454650.
Source
