Canada's GFL to sell environmental services business in $5.6 bln deal (updated)

GFL Environmental

07/01/2025 11:23

(Adds details from the release in paragraphs 2-4)
       Jan 7 (Reuters) - GFL Environmental  GFL.TO  will sell
its environmental services division to Apollo Global Management
 APO.N  and BC Partners in a deal valued at C$8 billion ($5.59
billion), the Canadian waste management company said on Tuesday.
    The Vaughan, Ontario-based company, which offers services in
solid waste management, liquid waste management and soil
remediation, said it would retain a C$1.7 billion equity
interest in the environmental services business. 
    It expects to realize cash proceeds of about C$6.2 billion
net of the retained equity and taxes.
    The company also intends to use up to C$3.75 billion of the
net proceeds to repay debt, making available up to C$2.25
billion for share repurchases.


($1 = 1.4305 Canadian dollars)

 (Reporting by Anshuman Tripathy in Bengaluru; Editing by Shilpi
Majumdar)
 ((Anshuman.Tripathy@thomsonreuters.com;))