REPUBLIC SERVICES, INC. acquired Waste Management divested assets (1998-1999 asset purchase) for $438.0 million, a transaction completed in March 1999, structured as Purchase of operating assets (16 landfills, 11 transfer stations and 139 commercial collection routes) plus disposal agreements at various Waste Management facilities, for cash plus certain properties.
Waste Management divested assets (1998-1999 asset purchase) operates in Solid waste collection, transfer and disposal, is based in United States (multiple states). In September 1998, Republic Services signed an agreement with Waste Management, Inc. to acquire a portfolio of operating assets and to enter into disposal agreements at various Waste Management facilities. The assets - which Waste Management divested in connection with regulatory clearance of its combination with USA Waste - comprised 16 landfills, 11 transfer stations and 139 commercial collection routes across the United States. By March 1999 Republic had completed the purchase for approximately $438.0 million in cash plus certain properties, accounting for the assets under the purchase method; roughly $251.1 million of the purchase price was paid during the first quarter of 1999. The transaction materially expanded Republic's early collection and disposal network as it operated as a newly independent public company.
Acquiring the assets Waste Management was required to divest gave the newly public Republic Services a substantial, geographically diversified base of landfills, transfer stations and commercial collection routes, accelerating the build-out of its non-hazardous solid waste collection and disposal network.
Advisory firms were not disclosed for this transaction.