Date
24 September 2017

Beijing Capital buys NZ waste management firm, paper says

Beijing Capital Group Co. Ltd. (600008.CN) has agreed to acquire Transpacific New Zealand, the biggest waste management company in the country, for 5 billion yuan (US$816 million), Shanghai Securities News reported Thursday. It is the biggest overseas acquisition in the industry. Transpacific New Zealand, which accounts for one-third of the country’s waste management market, booked a net profit of NZ$107 million (US$90.05 million) on revenue of NZ$369 million last year, the report said. In September, Beijing Enterprises Water Group Ltd. (00371.HK) announced its purchase of two water utilities for 1.35 billion yuan.

– Contact HKEJ at [email protected]

EL/AC/RA

 

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