Highlights:
- Australian based Leighton Holdings has sold Thiess Waste Management to Remondis AG.
- Sale price is a reported to be $218 million - which is a 6x multiple of EBITDA for the unit.
- Thiess Waste Management provides a number of services including waste collection, recycling, landfill management, and waste to energy.
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Leighton Holdings claims the sale was part of a strategic plan to divest non-strategic assets and to focus on core businesses.
From the article:
Leighton Holdings has confirmed the sale of Thiess Waste Management to Remondis AG & Co KG.
In a statement issued to the Australian Securities Exchange, the company reported that the total purchase price was $218 million, and that the sale was subject to certain conditions, including novation of major customer contracts.
Mr Hamish Tyrwhitt, Leighton Holdings chief executive, said the sale was part of the company's program to move capital from non-core to core assets, and that further divestments could be expected.
