Warburg Pincus selling stake in Australia's Transpacific for $469m

PERTH (Reuters) - Private equity firm Warburg Pincus is selling a stake in Australian waste management firm Transpacific Industries Group through UBS, a Transpacific spokesman said on Saturday.

The Australian Financial Review reported that the shares were being offered at A$1.05 and the deal was worth A$400 million (S$469 million). A spokeswoman for UBS was unavailable for comment.

Warburg Pincus became a cornerstone investor in Brisbane-based Transpacific in 2009 when it bought a 33.9 per cent stake at A$1.80 a share. It is the first and only investment in Australia for the global private equity group.