A consortium that includes two Maori tribes is reportedly set to make an offer for Transpacific Industries Group’s New Zelanad waste management unit, which is also courted by private equity major Carlyle.
The tribes are part of a consortium led by New Zealand fund manager Morrison& Co, said reuters, citing a person involved in the bid.
“There are well funded Kiwi tribes…who from various treaty settlements from the government are quite large institutions. They’re investors in their own right. We’ve got two of them involved in this,” a Morrison spokesman told Reuters.
Beijing Capital Group and a fourth bidder are also expected to make offer for the business, according to the report.
Earlier reports said that the unit could be valued at around NZ$880m ($720m).
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