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WASTE MANAGEMENT ANNOUNCES INITIAL PUBLIC OFFERING

 WASTE MANAGEMENT ANNOUNCES INITIAL PUBLIC OFFERING
 OAK BROOK, Ill., April 7 /PRNewswire/ -- Waste Management


International plc today offered, in a global initial public offering, 75 million ordinary shares at 5.85 (British pounds sterling) per ordinary share, including 15 million American Depositary Shares, each representing two ordinary shares, at $20.475 per American Depositary Share. The domestic offering was managed by Merrill Lynch, Pierce, Fenner & Smith Incorporated (who also acted as global coordinator) and Kidder, Peabody & Co. Incorporated. Waste Management International plc's American Depositary Shares have been authorized for listing on the New York Stock Exchange under the ticker symbol: WME.
 Waste Management, Inc., Chemical Waste Management, Inc., and Wheelabrator Technologies Inc. owned 70 percent, 15 percent, and 15 percent, respectively, of the outstanding ordinary shares prior to the global offering and will own 56 percent, 12 percent, and 12 percent, respectively, upon consummation of the offering. The company intends to use the net proceeds of the offering to repay certain third-party indebtedness of its operating subsidiaries and to repay all indebtedness owed to Waste Management, Inc.
 The company is a leading international provider of waste management and related services and has taken over essentially all of the waste management operations located outside North America of Waste Management, Inc. and its subsidiaries. The company provides a wide range of solid and hazardous waste management services, from collection, transportation, storage, treatment, recycling, and incineration, to disposal of wastes, operates a waste-to-energy facility, and performs certain related services, including the provision of waste storage containers. Such services are integrated to varying extents in different jurisdictions, depending on facilities, regulatory limitations, and stage of market penetration. The company currently operates in eight countries in Europe (Italy, Sweden, Germany, the United Kingdom, The Netherlands, Spain, France and Denmark), one country in South America (Argentina), two countries in the Pacific (Australia and New Zealand), two territories in Asia (Hong Kong and Brunei), and two countries in the Middle East (Kuwait and Saudi Arabia).
 This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A prospectus relating to the offering can be obtained from the underwriters.
 -0- 4/7/92
 /CONTACT: William J. Plunkett, 708-572-8898, or (investors) James E. Koenig, 708-572-8822, both of Waste Management/
 (WME) CO: Waste Management International plc ST: Illinois IN: SU: OFR


TS -- NY015 -- 5689 04/07/92 08:59 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
Words:432
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