Waste Management, Inc. reached an agreement to sell its waste services operations in Finland to Lassila & Tikanoja plc for approximately $100 million. The company expects to complete the transaction in the first half of 2000.
The sale of Waste Management's Finnish business is part of its plan to re-focus the company on its North American solid waste operations. Waste Management is in discussions with other parties on the divestiture of its other international businesses, as well as non-core and certain non-integrated solid waste assets in North America. The Company intends to use the proceeds of these divestitures primarily to reduce debt, and over time to repurchase shares and make selective tuck-in acquisitions of solid waste businesses in North America.
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