Brambles unit to buy German waste business
SYDNEY - Logistics and industrial services group Brambles Industries Ltd said on Tuesday its Cleanaway unit would buy Waste Management Incs German waste services operations for US$80 mln (A$138 mln).
The sale, which is expected to be completed in the second half of the year, includes residential and commercial waste collection, recycling and hazardous waste collection businesses.
Cleanaway is a joint venture with British engineering group GKN Plc .
Shares in Brambles were trading down 25 cents at A$49.10 shortly after the open.
REUTERS NEWS SERVICE
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