GFL in talks to sell environmental business for C$8 bln, Globe and Mail reports (updated)

GFL Environmental

18/12/2024 16:52

(Adds details from report and background throughout)
       Dec 18 (Reuters) - Canadian waste management company GFL
Environmental  GFL.TO  is in exclusive talks with Apollo Global
Management  APO.N  to sell its environmental services division
for about C$8 billion  ($5.59 billion), the Globe and Mail
reported on Wednesday, citing sources familiar with the
negotiations.
        The company said last month it had evaluated a sale of
the environmental services unit, and would receive at least C$6
billion in after-tax proceeds from a possible sale.
  
        The deal is expected to be announced in early January,
the Globe and Mail 
    report
     said, adding that the talks are, however, still ongoing and
the terms could change.
  
        GFL and Apollo did not immediately respond to Reuters'
requests for comment.
  
        The unit contributed nearly 23% to GFL's third-quarter
overall revenue.
  
        GFL, a diversified environmental services company in
North America, offers services in solid waste management, liquid
waste management, and soil remediation. 
  
            
  
($1 = 1.4324 Canadian dollars)

 (Reporting by Anshuman Tripathy in Bengaluru; Editing by Maju
Samuel)
 ((Anshuman.Tripathy@thomsonreuters.com;))