A consortium including Macquarie Infrastructure and Real Assets (MIRA) and the Australian private equity firm, CPE Capital, has made a A$2.29bn bid (€1.46bn) for Bingo Industries, which owns a network of recycling and waste management facilities in Australia.
Bingo Industries said it had received an offer from the consortium to acquire the company.
It said the consortium had proposed to pay its shareholders A$3.50 per share. Listed in 2017, the company has a market capitalisation of around A$1.18bn.
Bingo said the proposal was subject to a number of conditions, including due diligence and financing, adding that the offer was being considered by an independent board committee of Bingo, and that discussions and due diligence with the consortium had been ongoing.
Initially, a family-owned skip bin business based in Western Sydney, Bingo now operates the largest network of recycling and resource recovery centres in NSW and Victoria.
To read the digital edition of the latest IPE Real Assets magazine click here.
