Deal 'imminent' to sell Harrisburg's debt-laden incinerator

Reuters News
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Posted: Jul 24, 2013 9:12 AM
Deal 'imminent' to sell Harrisburg's debt-laden incinerator

(Reuters) - The city of Harrisburg, Pennsylvania, said on Wednesday that it reached an agreement to sell the garbage incinerator that burned a $345 million hole in its finances and nearly left it bankrupt.

State-appointed receiver William Lynch said in a statement that a deal is imminent to sell the incinerator to Lancaster County Solid Waste Management. The terms of the deal, which must be approved by a court overseeing the city's financial recovery plan, were not disclosed in the statement.

(Reporting by Hilary Russ; Editing by Tiziana Barghini and Chizu Nomiyama)