GFL To Retain 44% Equity Interest In Environmental Services Business And Apollo Funds And BC Funds To Each Hold 28% Equity Interest

GFL intends to use up to C$3.75 billion of the net proceeds from the Transaction to repay debt, making available up to C$2.25 billion for the repurchase of GFL shares, subject to market conditions, and the balance for transaction fees and general corporate purposes. Net Leverage, pro forma for the planned use of proceeds, is expected to be 3.0x.

The Transaction is expected to close in the first quarter of 2025 and is subject to certain customary closing conditions. The Transaction is not subject to any financing conditions.