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Interesting
$Waste Management (WM.US)$ Waste Management, Inc. (NYSE:WM) reportedly explored divestment of its renewable natural gas business that could be worth about $3 billion.
The company is working with JP Morgan Chase & Co. (NYSE:JPM) to gauge interest from potential energy companies and private equity firms, reported Reuters.
As per the report, Waste Management aims to offload the rights to develop RNG operations on 115 landfills that it owns, adding the company would retain ownership of the landfills.
If the deal talks conclude successfully, it would mark one of the biggest-ever asset sales in the nascent U.S. RNG industry, as per the report.
The company's RNG unit currently generates about $150 million of EBITDA and projects that the unit would contribute over $500 million of adjusted earnings before interest, tax, depreciation and amortization (EBITDA) by 2026.
As per the report, Waste Management is hoping the unit's valuation to be comparable to, or exceed, the earnings multiple at which Morrow Renewables sold RNG operations at landfills to Enbridge Inc (NYSE:ENB) in late 2023.
The company is working with JP Morgan Chase & Co. (NYSE:JPM) to gauge interest from potential energy companies and private equity firms, reported Reuters.
As per the report, Waste Management aims to offload the rights to develop RNG operations on 115 landfills that it owns, adding the company would retain ownership of the landfills.
If the deal talks conclude successfully, it would mark one of the biggest-ever asset sales in the nascent U.S. RNG industry, as per the report.
The company's RNG unit currently generates about $150 million of EBITDA and projects that the unit would contribute over $500 million of adjusted earnings before interest, tax, depreciation and amortization (EBITDA) by 2026.
As per the report, Waste Management is hoping the unit's valuation to be comparable to, or exceed, the earnings multiple at which Morrow Renewables sold RNG operations at landfills to Enbridge Inc (NYSE:ENB) in late 2023.
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Jaguar8 : Hmm indeed interesting divestment
Jaguar8 : Maybe change the name of the institution![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Trytosaveabit OP Jaguar8 : Sure is! I wish they said in the article who may be interested in buying? If anyone.