Transpacific gains OIO approval for NZ unit sale to Beijing Capital

Mon, 09 Jun 2014

By Suze Metherell June 10 (BusinessDesk) - The Overseas Investment Office has approved the sale of the New Zealand waste management arm of Transpacific Industries to Beijing Capital Group. Chinese state-owned Beijing Capital spent $950 million on the New Zealand business, buying it from the Queensland-based company in March. At the time of the announcement it said the current management team would remain and operations would continue as normal. The sale has also been approved by Chinese regulators. Transpacific wrote down the value of...

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