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Energy Capital to Buy Waste Management Unit for $1.94 Billion

July 29 (Bloomberg) -- Energy Capital Partners agreed to buy Wheelabrator Technologies Inc., a waste-to-energy business, from Waste Management Inc. for $1.94 billion.

The deal is subject to regulatory approval and is expected to be completed in late 2014, Houston-based Waste Management said today in a statement.

Wheelabrator owns or operates plants in the U.S. that process more than 7.5 million tons of waste and have a combined generation capacity of 853 megawatts, according to the statement. The business had about $845 million in sales last year.

Barclays Plc and Centerview Partners LLC are financial advisers to Waste Management on the deal.

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