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Waste Management owner, Transpacific Industries, has applied for regulatory clearance to buy EnviroWaste's South Island business and part of Manawatu Waste.
The planned asset sale follows last month's sale of EnviroWaste, New Zealand's second-largest rubbish collection and disposal company, to Australian private equity company Ironbridge by Fulton Hogan.
The Commerce Commission said today Ironbridge had agreed to sell EnviroWaste's South Island assets and its 50-per cent share of Manawatu Waste to Australia's Transpacific, which paid $870 million for market leader Waste Management last year.
Ironbridge, which reportedly paid about $365m for EnviroWaste, would retain the balance of EnviroWaste's assets, in the North Island.
The purchase would bring Transpacific's ownership of Canterbury Waste Services, which owns the Kate Valley landfill, to 100 per cent.
- NZPA
