Good evening,

Bankers had some big deals on the boil on Monday even as the ASX remained shut and the long weekend rolled along.

Street Talk understands private capital types are checking out Cleanaway Waste Management, in what could be a $10 billion odd deal if it were to play out.

It’s very early days with no formal approaches, but infrastructure giants know their way around waste assets now, having run the numbers on Bingo Industries and Waste Management NZ in recent years.

But Cleanaway is the size of those two recent targets put together, and infrastructure investors will be double (and triple) checking to make sure any potential deal stacks up before they lob a bid.

Speaking of infrastructure, it looks like that is what will soon be left of AMP’s private markets business demerger whose original plan was to list by June 30.

Dexus is ironing out the final details to buy Collimate Capital’s property business and the deal was expected to land as soon as Friday this week.

Elsewhere, Street Talk’s spotted two IPOs in the works.

Sanjeev Gupta’s Infrabuild Australia has mandated banks to relist on the ASX in what could be a $7 billion float, and Bain Capital’s laying the corporate plumbing to resurrect the listing of Retail Zoo, which owns Boost Juice and Betty’s Burgers.

Happy reading,

Anthony Macdonald, Yolanda Redrup, Sarah Thompson and Kanika Sood
Street Talk editors