Vertex Energy gains after selling Heartland business for $90 mln

Vertex Energy

01/02/2023 15:26

** Shares of oil and gas firm Vertex Energy Inc  VTNR.O  up
4.1% at $7.57 
    ** Co sells its Heartland used motor oil refinery and
collection business to a unit of GFL Environmental Inc  GFL.TO 
for $90 mln  urn:newsml:reuters.com:*:nBw972CDNa
    ** GFL is a Canada-based waste management company; its
shares marginally down 0.2% at C$41 
    ** VTNR says the divestiture will help improve focus on
conventional fuels refining operations and renewable diesel
production operations at its Mobile, AL facility located on the
U.S. Gulf Coast
    ** VTNR shares gained 36.9% in 2022, while GFL fell 17.3% in
the same period
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))