(Reuters) – 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 (TPI.AX: Quote, Profile, Research, Stock Buzz), 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 (CG.O: Quote, Profile, Research, Stock Buzz), KKR (KKR.N: Quote, Profile, Research, Stock Buzz) and Archer are working with banks to put together debt packages to back their bids, the people said. The three firms declined to comment.
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.