Ecol Partners to Acquire American Ecology Stock

American Ecology Corp., an Agoura Hills waste management concern, said Ecol Partners Ltd. has agreed to exchange $12 million of the $22.5 million in American Ecology’s long-term debt it now holds for 800,000 shares of American Ecology common stock.

Ecol Partners is controlled by Harry J. Phillips Jr., a Houston investor who acquired Browning-Ferris Industries Inc.’s 52% stake in American Ecology last month for $16.6 million.

American Ecology also said it has agreed to extend Ecol Partners’ warrant to purchase 1.5 million American Ecology shares for a year beyond the Aug. 11, 1992, expiration date, but the price at which the warrants may be exercised will increase from $15 to $17.50 per share during that year.