On Saturday, a Transpacific Industries Group spokesperson said the shareholder Warburg Pincus would be selling its stake in the waste management firm through UBS. In The Australian Financial Review report, the private equity firm would be selling the shares it owned in the Australian firm at AUD1.05 per share. The deal was reportedly pegged at AUD400 million or USD378 million.

Warburg Pincus was a cornerstone investor in Transpacific when it purchased a 33.9% in 2009. The price was at AUD1.80 per share then. Transpacific was the US private equity firm's only investment in Australia.

Early this week, Transpacific disclosed that it had tapped Deutsche Bank to dispose its New Zealand waste management unit. The Australian firm intended to focus on its core businesses and had proceeded to dispose its non-core assets. The unit was worth NZD900 million.

Investor sentiment might have been positive with the news. Transpacific shares on Friday rose to a record high in over two years this week, closing at AUD1.12 on Friday.