Cheung Kong Infrastructure buys New Zealand waste firm

Li Ka-shing’s CKI will pay $422 million to Ironbridge for EnviroWaste.

Cheung Kong Infrastructure buys New Zealand waste firm

Hong Kong-listed Cheung Kong Infrastructure Holdings CKI has agreed to buy New Zealand waste management company EnviroWaste for NZ$501 million $422 million, according to a statement yesterday. The acquisition indicates that CKI is continuing its recent acquisition spree.

The sale by Australian private equity firm Ironbridge values EnviroWaste at 10 times earnings before interest, tax, depreciation and amortisation Ebitda for the fiscal year to June 2012 and includes NZ$11 million...

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