Beijing Capital Weighs Sale of Singapore Waste Recycling Unit

  • In Business
  • 2021-11-25 09:19:37Z
  • By Bloomberg

(Bloomberg) -- Beijing Capital Group Co. is considering selling its waste management business in Singapore for as much as $500 million, according to people familiar with the matter.

Most Read from Bloomberg

  • Billionaire Family Feud Puts a Century-Old Business Empire in Jeopardy

  • Asia's Richest Man Looks to Walton Family Playbook on Succession

  • The 24-Year-Old Aiming to Dethrone Victoria's Secret

  • The Winners and Losers From a Year of Ranking Covid Resilience

  • An Arab City's Booming Art Scene Is Also a Grab at Soft Power

The state-owned Chinese firm is in talks with advisers about working on the potential divestment of ECO Special Waste Management Pte, said the people, who asked not to be identified as the information is private.

Deliberations are at an early stage and Beijing Capital could decide against selling the business, the people said. A representative for Beijing Capital didn't immediately respond to requests for comment by phone and email.

The company is also exploring the sale of a New Zealand-based unit, Beijing Capital Waste Management NZ Ltd., Bloomberg News reported in August.

Waste recycling businesses have become increasingly popular among investors due to their strong cash flow as well as their environmental benefits. Macquarie Group Ltd.'s infrastructure unit completed a deal in August to buy of Australian waste management firm Bingo Industries Ltd. for about $1.9 billion including debt. Buyout firm Platinum Equity bought Spanish waste management company Urbaser SA from Chinese environmental services group China Tianying Inc. at an enterprise value of about $4.2 billion, finalizing the deal last month.

Beijing Capital acquired ECO Special Waste Management for S$246 million ($180 million) in 2015. Founded in 1997, the Singaporean firm provides services managing industrial and commercial waste, sludge treatment and specialized chemical recovery, according to its website.

Most Read from Bloomberg Businessweek

  • Medical Debt Is Crushing Black Americans, and Hospitals Aren't Helping

  • Wildfires Are Getting Worse, and One Chemical Company Is Reaping the Benefits

  • How Child Care Became the Most Broken Business in America

  • Boeing Built an Unsafe Plane, and Blamed the Pilots When It Crashed

©2021 Bloomberg L.P.


More Related News

U.S. Bill Puts Mexico Electric Car Investments at Risk: Minister
U.S. Bill Puts Mexico Electric Car Investments at Risk: Minister

(Bloomberg) -- Investments in Mexico are being put at risk by a U.S. bill offering tax credits for electric vehicles built with domestic labor, Economy...

After Calling China
After Calling China's Crackdown, This Fund Is Going Big on Solar

(Bloomberg) -- One of the few funds to predict Beijing's clampdown on education companies is doubling down on its bets on China's solar companies. Most Read ...

Google Hires Former Amazon Executive To Work on Machine Learning
Google Hires Former Amazon Executive To Work on Machine Learning

(Bloomberg) -- A former Inc. executive who worked on its Alexa voice assistant has joined Google as a vice president.Most Read from BloombergThe...

Bank Stocks Whipsaw Canada
Bank Stocks Whipsaw Canada's Market With Higher Rates on Horizon

(Bloomberg) -- Canada's bank stocks have had a wild ride this week, and they're whipsawing the country's main stock index.Most Read from BloombergThe Hot New...

Twitter's New CEO Makes His Mark With Executive Reshuffle

(Bloomberg) -- Twitter Inc. Chief Executive Officer Parag Agrawal, who just took the reins from Jack Dorsey this week, is already shaking up the management...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Business