Waste Management NZ has been purchased by a Beijing Corporation namely ‘Igneo’ a Beijing Capital Group. This means that NZ largest organic waste disposal will be owned by this Beijing Corporate. Igneo Infrastructure partners. The First Sentier Investors is a global asset management business, ultimately owned by the Mitsubishi UFJ Financial Group. Igneo Infrastructure Partner as an unlisted infrastructure asset management business, is part of First Sentier Investors Group. They communicate, conduct business through different legal entities in different locations. 1st April 2022 Igneo Infrastructure Partners agreed to acquire 100% interest in NZ’s largest resource recovery and waste management services provide (Waste Management NZ Ltd.,). The buyer being the Beijing Capital Group

Beijing Igneo intends to benefit from long tern growth prospects and the sectors of the tail winds. Waste Management NZ operated 860 trucks across 70 locations in NZ, collecting over 2.1 million municipal bins per month. Comprising of a nationwide network of 49 recovery transfer stations and technical facilities, handling over 1 million tonnes of residual waste and recycling over 200,000 tonnes. Comprising of a nationwide network of 49 material recovery, transfer stations and technical facilities, handling over 1 million tonnes of residual waste and recycling over 200 thousand tonnes of residual waste and recycling

Igneo was jointly advised by Craigs Investment Partners and the Royal Bank of Canada on this transaction Bell Gully acted as the legal counsel. The purchase of Waste Management NZ by Beijing  was approved by the NZ Overseas Investment Office (OIO). Igneo is an autonomous investment team in the ‘First Sentier Investors Group, has been operating since 1994. . It invests in high-quality, mature, mid-market infrastructure companies in the utilities and transport sectors in the UK, Europe, North America, Australia and New Zealand. Has a focus on ESG and proactive in ‘asset management’. Igneo manages US$14.8 bn worth of assets (as at 31 December 2021) on behalf of more than 120 investors around the world.

First Sentier Investors manages US$182.5 billion in assets (as at 31 December 2021) on behalf of institutional investors, pension funds, wholesale distributors, investment platforms, financial advisers and their clients worldwide. Has offices across Europe, America’s, Asia Pacific, they were formerly known as ‘First State Investments, but then was acquired by Mitsubishi UFJ Trust and Banking Corporation in August 2019. Mitsubishi UFJ Financial Group (MUFG) is one of the worlds leading financial groups with , headquarters in Tokyo. Has a global network with approx.., 2500 locations in more than 50 countries, has approx.., 170,000 employees offers services in commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing. First Sentier Investors (FSI) is an asset management business and the home of investment teams FSSA Investment Managers, Igneo Infrastructure Partners, Realindex Investments and Stewart Investors.

Igneo Infrastructure Partners is a UK trading name of First Sentier Investors International IM Limited. In the EEA this website is operated and communicated by First Sentier Investors (Ireland) Limited, registered office 70 Sir John Rogerson’s Quay, Dublin 2, Ireland, (CBI registration number C182306). First Sentier Investors is ultimately owned by Mitsubishi UFJ Financial Group, Inc (MUFG), a global financial group. This is a leading global financial services group and one of the largest banking institutions in Japan. One of the worlds leading financial groups with total assets of approximately $3.1 trillion (USD). The Bank of Tokyo-Mitsubishi UFJ New Zealand branch provides diverse corporate banking and finance services through a comprehensive network of branches

First Sentier Investors are stewards of assets under management of AU$215.5 billion (as at 31/12/22) across listed equities, fixed income and direct infrastructure on behalf of institutional investors, pension funds, wholesale distributors and platforms, financial advisers and their clients. Helping to grow their clients wealth. The Beijing Capital Group (BCG), which is owned by the Beijing municipal government.  In 2013 Hongkong listed Cheung Kong Infrastructure Holdings (CKI) has agreed to buy New Zealand waste management company EnviroWaste for NZ$501 million . Transpacific NZ Waste Management was sold to Beijing Capital Group for $950 million in 2014.