GFL rises after deal to sell its environmental services business

GFL Environmental

07/01/2025 11:39

** U.S.-listed shares of Canadian waste management company
GFL Environmental  GFL.TO  rise 2.1% to $44.96 premarket
    ** Agrees to sell its environmental services business to
Apollo Global Management  APO.N  and BC Partners in a deal
valued at C$8 billion ($5.59 billion)
    ** GFL to use proceeds to repay up to C$3.75 billion of debt
and for potential share buybacks of up to C$2.25 billion
    ** Will retain 44% equity interest in the Environmental
Services business while Apollo Funds and BC Funds to each hold a
28% equity interest
    ** GFL stock gained 40.2% in 2024

($1 = 1.4312 Canadian dollars)

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com))