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Tuesday, July 29, 2014

Waste Management to sell waste-to-energy unit to Energy Capital, (NYSE: WM)

Waste Management Inc said it would sell its waste-to-energy unit to private equity firm Energy Capital Partners for $1.94 billion in cash. The unit, Wheelabrator Technologies Inc, generated about $845 million of the company's total revenue of $13.98 billion in 2013.

Waste Management, Inc. (WM) is a provider of waste management services in North America. Shares of WM fell by 0.48% or $-0.21/share to $43.89. In the past year, the shares have traded as low as $39.60 and as high as $46.38. On average, 1496460 shares of WM exchange hands on a given day and today's volume is recorded at 1506361.