Waste Management and Advanced Disposal, two of America's largest waste-management companies, are joining forces in a $4.9 billion deal.Advanced Disposal's shares surged 20% on the news.The tie-up is expected to immediately boost earnings and cash flow, and generate $100 million in annual savings by cutting costs and slashing capital spending.Watch Waste Management and Advanced Disposal trade live.America's largest waste-management company is snapping up the nation's fourth-largest solid-waste company in a $4.9 billion deal, marking one of the biggest acquisitions in the waste collection, recycling, and disposal spaces in more than a decade.Texas-based Waste Management has agreed to acquire Florida-based Advanced Disposal for about $2.9 billion in cash, and will take on $1.9 billion in net debt from its smaller rival. Advanced Disposal shareholders are set to receive $33.15 in cash for each share they hold — roughly a 21% premium to the company's … [Read more...] about 2 of America’s biggest waste-management companies are joining forces
Debt management companies
Estate agency Redbrik makes its move by acquiring Chesterfield property management company Noble Hardy Property Management
Regional estate agency Redbrik has strengthened its lettings portfolio with the acquisition of Noble Hardy Property Management. Redbrik has purchased the assets of the Chesterfield-based property management company and will take over managing the company’s portfolio with immediate effect.Peter Lee, lettings director at Redbrik, said: “This acquisition is fantastic news for Redbrik as we look to expand our lettings service further. “We were attracted to the business as it had a very similar ethos to Redbrik in terms of delivering outstanding customer service and striving for 100 per cent occupancy. “The company has been run very well by Wilson Spencer, aided by Sam Cauldwell and Joshua Whittaker, and we have inherited a great business with no debt or arrears. “It is a really nice fit for the Redbrik brand and a great opportunity to expand our lettings offer in Chesterfield. “We are continually looking at ways to attract new landlords so we can work … [Read more...] about Estate agency Redbrik makes its move by acquiring Chesterfield property management company Noble Hardy Property Management
China’s bad debt managers risk becoming bad credits themselves
By Samuel Shen and Shu Zhang SHANGHAI/SINGAPORE (Reuters) - China's bad debt managers, whom Beijing hopes to play a key role in resolving financial risks, are in danger of becoming bad credits themselves as the leverage crackdown that fuelled a boom in their business now threatens their own access to funding. The practice of buying banks' non-performing loans (NPLs) at a discount and recovering them for a profit has grown rapidly in China since 2016. It has attracted a slew of new local players as well as foreigners including Oaktree Capital Group and CarVal Investors as Beijing's deleveraging campaign and economic restructuring produces a still-rising mountain of soured loans. But as China's economy posts its slowest annual growth in 28 years amid the Sino-U.S. trade war, Chinese vulture funds are finding themselves mired in their own liquidity squeeze. The industry's woes not only hamper Chinese banks' ability to quickly offload bad debts to make room for fresh lending, but also … [Read more...] about China’s bad debt managers risk becoming bad credits themselves
Vietnam to chair 4th asset management company forum
VDATC deputy general director Pham Manh Thuong (standing) addresses the press meeting on November 13 (Photo: VNA) Hanoi (VNA) – The Vietnam Debt Asset Trading Corporation (VDATC), in collaboration with the Asian Development Bank, will organise the 4th International Public Asset Management Company Forum (IPAF) from November 14-15. VDATC deputy general director Pham Manh Thuong told the press on November 13 that the forum aims to improve capacity of the IPAF members, policy-makers and experts, contributing to stability of the regional economy. The IPAF will work to fortify its mechanism in response to economic crisis, thus promoting the recovery ability of the economy. Thuong said that the annual summit meeting slated for November 14 will look to finalise the agenda of the international conferences and issue joint statement which defines IPAF activities in its new term. The meeting will officially ratify the admission of the Vietnam Asset Management Company (VAMC) as a new IPAF … [Read more...] about Vietnam to chair 4th asset management company forum
10 reasons you might want to consider debt management
By Linda Bell Published October 31, 2018 Personal Finance FOXBusiness Facebook Twitter Comments Print video US national debt is the biggest issue facing this country: Gary Johnson New Mexico Senate candidate Gary Johnson says that the national debt is the biggest issue facing the U.S. Are you swimming in debt and not sure how to handle it? Mike Sullivan, personal finance consultant at Take Charge America says two of the most popular strategies for people to get out of debt are debt management and debt settlement. While they sound similar, there are key differences. Continue Reading Below “Debt management is a process whereby a consumer pays off his or her accumulated debt over a period of years, in conjunction with agreements with the credit card companies,” he says. “It is a long-term process that helps you get out of debt by working with creditors. Debt settlement, on the other hand, is a hugely somewhat shorter … [Read more...] about 10 reasons you might want to consider debt management