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Cleanaway hires Origin gas boss as new CEO
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Waste management group Cleanaway will shell out a $1.8 million sign-on fee to new chief executive Mark Schubert as part of a package enticing the experienced gas executive to jump ship from running the Integrated Gas division at Origin Energy.
Mr Schubert, who has been running the integrated gas business at Origin for four years wonât be starting at Cleanaway until the new financial year, but Cleanaway chairman Mark Chellew said he was the ideal person to run the company and had lengthy experience running âlarge and complex businessesâ.
Cleanaway has hired Origin gas executive as its new CEO.Â
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Waste management company Bingo Industries agreed to a $2.3 billion buyout from Macquarie Infrastructure and Real Assets in a deal that likely spells the end of an action-packed four years as a listed company.
Bingo shareholders are able to choose either $3.45 in cash or a mixture of cash and unlisted shares in Macquarie funds. The alternative offer is worth slightly less at an equivalent of $3.30 a share, with a cash portion of $1.32 a share.
Bingo boss Daniel Tartak holds 19.8 per cent of the company.
Bingo, which operates a fleet of around 330 waste collection trucks in Sydney and Melbourne with distinctive orange livery, listed on the ASX in 2017 with an offer price of $1.80. It last traded on Monday at $3.20.
Bingoâs $100m plant ready to roll as takeover looms
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Bingo Industries is poised to take the wraps off a $100 million recycling facility in Sydneyâs outer west that will be the largest in Australia, but a new owner of the entire group could soon emerge in a $2.5 billion-plus buyout.
Bingo and previous owner Dial-A-Dump have spent a combined $100 million on the new materials processing facility at Eastern Creek in western Sydney, with the asset to be officially opened on Friday by chief executive Daniel Tartak and federal Environment Minister Sussan Ley.
Bingo boss Daniel Tartak holds 19.8 per cent of the company.Â