GFL Environmental to Sell Services Business In $5.6 Billion Deal

GFL Environmental Inc. reached an agreement to sell its environmental services business in a deal valued at $5.6 billion Canadian dollars, equivalent to $4.2 billion U.S. dollars.

- DENNY JACOB

GFL expects cash proceeds of C$6.2 billion. It intends to use proceeds to repay debt, leaving net proceeds up to C$3.75 billion of the net proceeds to repay debt, leaving GFL with considerable flexibility to deploy capital into organic growth initiatives and solid waste M&A and allow for a greater return of capital to shareholders.