(Repeats without change to text)
* Deal could fetch around NZ$880 million
* Transpacific offloading NZ business to focus on Australia
(Updates with additional detail on the deal)
By Stephen Aldred and Jackie Range
HONG KONG/SYDNEY, Dec 19 Carlyle Group and KKR
have advanced in the sale of Transpacific Industries Group Ltd's
waste management unit, in a deal that could fetch
around NZ$880 million ($725.5 million), people familiar with the
matter told Reuters.
The deal comes as Transpacific Industries, a recycling,
waste management and industrial services company, is selling
assets in New Zealand to focus on growing its Australian
business as part of a broader corporate revamp.
The biggest M&A deal on record in New Zealand's waste and
waste management industry is expected to be benchmarked to
private equity firm Ironbridge Capital's sale this year of its
New Zealand waste company, EnviroWaste Services Ltd. That
business was sold to Hong Kong's Cheung Kong Infrastructure
Holdings Ltd for NZ$501 million including NZ$11
million in debt.
Australian private equity firm Archer Capital is also among
the bidders that have advanced in the auction, the people said.
The deal is the largest takeover in New Zealand since
Chinese appliance maker Haier paid NZ$927 million in November
2012 for the 80 percent of Fisher and Paykel Appliances Ltd it
did not own.
Carlyle, KKR and Archer are working with
banks to put together debt packages to back their bids, the
people said. The three firms declined to comment.
Final bids are expected in February.
($1 = 1.2129 New Zealand dollars)
(Additional reporting by Sharon Klyne of Basis Point; Editing
by Michael Flaherty and Stephen Coates)