Carlyle vies with local, Chinese bidders for Transpacific NZ - report

According to Reuters, the deal - which is expected to fetch NZ$1 billion ($830.20 million) - could also attract additional bids from state-owned Beijing Capital Group and a fourth unidentified bidder. Final bids are due to be submitted Friday.

The Blackstone Group and Japan's Orix Corp. were also reported to be among early suitors for the asset.

Transpacific, a Brisbane-based firm that specializes in recycling, waste management and industrial services company, is selling its New Zealand arm as part of a broader restructuring which will see it exit non-core businesses and focus on growing its Australian operations.

The decision to sell the unit came just before Warburg Pincus exited its one third holding in Transpacific via the public market in November, generating proceeds of around A$570 million ($540 million). Warburg invested in June 2009 when Transpacific was struggling to service its debts.

The unnamed Maori tribes - which hold considerable funds resulting from state land settlements over the past three decades - are bidding as part of a consortium run by New Zealand fund manager Morrison & Co. The group also includes Morrison's infrastructure investment fund, Infratil, and state-owned Accident Compensation Corp.

However, it is also reported that Transpacific could still decide opt to sell the New Zealand business via IPO.

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