Beijing Capital To Pay $795M For Transpacific's NZ Waste Biz

Law360, New York (March 3, 2014, 2:08 PM EST) -- A unit of Chinese-state owned Beijing Capital Group Co. Ltd. will buy Australian waste management company Transpacific Industries Group Ltd.'s New Zealand business for 950 million New Zealand dollars ($795 million), Transpacific announced Monday.

Under the transaction, Beijing Capital — among the largest conglomerates in China with core units spanning financial services, real estate and urban infrastructure — gets its hands on Transpacific's New Zealand business, which specializes in environmentally friendly landfill management as well as odor and hazardous waste management.

Transpacific said that the sale...
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