Jarden’s investment bankers have popped up in the Waste Management NZ auction, scoring a buy-side mandate with Morgan Stanley Infrastructure Partners.three known bidders for Waste Management NZJarden’s understood to be advising on MSI’s bid and helping arrange finance. Other banks with buy-side mandates include RBC Capital Markets and Macquarie Capital .
The auction’s into the second round with management meetings held in the past week or so. Waste Management NZ and auctioneer Citi are said to be calling for binding bids in March. Up for grabs is the New Zealand business formerly owned by Australia’s Cleanaway Waste Management Ltd , which was sold to Beijing Capital for close to $1 billion in 2014. It was pitched with north of $NZ150 million a year in earnings before interest, tax, depreciation and amortisation.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.