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Beijing Capital hires Citi to sell Singapore waste company in up to $400 mln deal - sources

By Kane Wu and Yantoultra Ngui

HONG KONG/SINGAPORE, Dec 1 (Reuters) - China's state-owned Beijing Capital Group has hired Citigroup to sell its wholly-owned Singapore waste management company ECO in a deal that could fetch $300 million to $400 million, said two sources with knowledge of the matter.

Beijing Capital bought the business from private equity firm Navis Capital for S$246 million in 2015, Navis Capital said at the time.

The sale process is in the early stages, said one of the sources.

Potential buyers for the asset would include private equity funds and companies in similar industries, said a third source familiar with the situation.

Beijing Capital did not immediately respond to a faxed query for comment. A receptionist at the group said no one was available to comment in response to a Reuters call.

ECO Special Waste Management didn't immediately respond to a request seeking comment. Citi declined to comment.

All of the sources declined to be identified as the information was confidential. (Reporting by Kane Wu in Hong Kong and Yantoultra Ngui in Singapore; additional reporting by Ziyi Tang in Beijing; Editing by Kim Coghill)

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