Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

BRIEF-Bingo Industries buys 3 waste management businesses in Melbourne Metropolitan area

Published 29/08/2017, 09:12 am
© Reuters.  BRIEF-Bingo Industries buys 3 waste management businesses in Melbourne Metropolitan area

Aug 29 (Reuters) - Bingo Industries Ltd BIN.AX :

* Announced company's entry into Victorian waste management market

* Announces acquisition of three waste management businesses located in Melbourne Metropolitan area.

* Businesses acquired are Konstruct Recycling, Resource Recovery Victoria, and AAZ Recycling, and associated entities

* All businesses, including one parcel of land were acquired for a combined price of $38 million through existing debt facilities

* A further $8 million will be invested to acquire additional equipment for businesses.

* Acquisitions are expected to be earnings per share (eps) accretive in year one

* Acquisitions to be EPS accretive in year one, with combined annualised EBITDA before synergies of approximately $8 million

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.