Blackstone (BX) and EQT (EQT) have proceeded to the second stage of the bidding process for waste management company Urbaser, Reuters reported Friday, citing people with knowledge of the situation.
Urbaser could be valued at around 5 billion euros ($5.29 billion) in a deal, the report said.
Private equity firm Platinum, which owns Urbaser, has told bidders to start due diligence and prepare binding offers for the last week of February, according to the report.
Blackstone and Citi, one of the advisors for the sale, declined MT Newswires' requests for comment.
EQT, Urbaser, Platinum, and Santander, which have also been picked as advisors for the sale, did not immediately reply to requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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