Waste Management to Sell Dutch Operations

Waste Management Inc. plans to sell its operations in the Netherlands to Shanks Group Plc for about $328 million, as part of an ongoing effort to concentrate on its North American solid waste business.

The transaction, which is expected to close early in the second quarter, must receive approval from shareholders of the U.K.-based Shanks Group and depends upon that company's ability to issue shares and obtain debt financing, Waste Management said.

Waste Management said its operations in the Netherlands represent the country's fourth-largest waste services company, focusing on solid and hazardous waste and electronic product recycling.