Another article in the Australian. I wonder when we will hear from the company instead from the Australian... The Sydney-based Tartak family are understood to have weighed a sale of Bingo Industries to a European group in the months before it listed as a $628m company in 2017.Four years later and the thinking among some is that the same European party may be back around the hoop.This time it is looking to front up with at least $2.3bn of cash to take over Bingo, taking on CPE Capital and Macquarie Infrastructure and Real Assets in the competition for the waste management group.READ NEXTFOREIGN INVESTMENTTehan hunting ‘lost’ $28bnBEN PACKHAMDataRoom revealed online on Friday that two other suitors had emerged for Bingo — a strategic European waste management company and Singapore’s Keppel Corporation, advised by Rothschild.The understanding is that the European group is not one of the three industry giants Suez, Veolia or Remondis.After making an indicative offer of $3.50 per share for Bingo in January, CPE Capital and MIRA are understood to have finalised their due diligence and were expected to put forward a firm offer last week.READ MORE:More Bingo suitors emerging|CPE ready to call Bingo after selling Gourmet|Bingo suitors skipping towards a dealThe understanding is that the CPE-MIRA bid has had the support of chief executive and major shareholder Daniel Tartak as well as Ian Malouf, who owns about 12 per cent, and both would retain some ownership in the privatised company.Private equity and infrastructure funds are interested in buying assets in the waste management space, which is becoming increasingly specialised and is seen as a growth sector.Keppel is known to be a keen acquirer of assets in the Australian market.It secured the Ixom chemicals business, which was previously part of Orica, from Blackstone in 2018 for $1.1bn.Earlier, the thinking was that Keppel was not in the data room but the situation may now have progressed to where it is carrying out due diligence.
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