Asia's Richest Man Bets $1.26B on Trash Crisis

Asia’s richest man, Li Ka-shing, is pouring money into burning trash. The real estate tycoon is leading a consortium to buy Dutch waste treatment company calledAVR for $1.26 billion (pdf) from private equity groups Kohlberg Kravis Roberts and CVC Capital Partners. AVR is the biggest “waste-to-energy” company in the Netherlands, which burns trash to generate thermal electricity.