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New Zealand’s EnviroWaste acquired

Cheung Kong Infrastructure Holdings Ltd. has signed a sale and purchase agreement to acquire New Zealand waste management business EnviroWaste for $411 million, plus $9 million of assumed debt from Ironbridge.

Ironbridge originally acquired EnviroWaste from Fulton Hogan in April 2007, paying $365 million for the asset.

The acquisition from Australian private equity firm Ironbridge, gives Cheung Kong infrastructure ownership of landfill sites, recycling depots and technology that captures methane gas for power generation in New Zealand.