Bermuda resident and Canadian millionaire Mr. Michael DeGroote, yesterday announced a new share sale should net about $100 million.

The company said it had accepted subscriptions to sell about 5 million shares of common stock in a private placement which was expected to close yesterday.

Share issue price is $20.25.

Allen & Company Inc. acted as placement agent in the move.

"The proceeds from the transaction will be used to fund acquisitions by the company, including retirement of debt assumed by the company,'' Republic said.

Mr. DeGroote's ownership of Republic is through his Bermuda holding company MGD Holdings and he is vice chairman of Republic.

Republic recently announced it had acquired Kertz Security Systems, Inc. and its affiliates and had agreed to acquire all the outstanding common stock of Southland Environmental Services, Inc.

Republic, with offices in Florida, is a diversified services company which primarily provides solid waste services in the US.