The Ontario-based waste management company will retain a 44 per cent equity interest in the environmental services unit, with asset manager Apollo Funds and investment firm BC Funds each getting 28 per cent of the business. (The Logic)
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The Ontario-based waste management company will retain a 44 per cent equity interest in the environmental services unit, with asset manager Apollo Funds and investment firm BC Funds each getting 28 per cent of the business. (The Logic)
Talking point: The deal caps a dramatic chapter for the company, which has been hit with arson attacks and has been coping with its heavy debt load. GFL will pay down $3.75 billion in debt, and repurchase up to $2.25 billion in shares with the proceeds. It will have the option to buy the environmental services business back within five years of the deal, which is expected to close by the end of this quarter.
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