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GFL Environmental To Acquire $835M Of Assets

VAUGHAN, ON, June 24, 2020 /CNW/ - GFL Environmental Inc. (TSX:GFL) ("GFL" or the "Company"), a leading North American diversified environmental services company, today announced that it has

Benzinga · -

VAUGHAN, ON, June 24, 2020 /CNW/ - GFL Environmental Inc. (TSX:GFL) ("GFL" or the "Company"), a leading North American diversified environmental services company, today announced that it has entered into a definitive agreement to purchase a portfolio of vertically integrated solid waste collection, transfer, recycling and disposal assets (the "Acquisition") for an aggregate purchase price of US$835 million.

The assets to be acquired by the Company, which include 32 collection operations, 36 transfer stations and 18 landfills supported by 380 collection vehicles across 10 U.S. states, represent substantially all of the divestiture assets expected to result from the previously announced acquisition of Advanced Disposal Services, Inc. ("ADS") by a wholly owned subsidiary of Waste Management, Inc. ("WM" and such transaction, the "WM-ADS Transaction"). The acquired assets are expected to generate annualized revenue of approximately US$345 million.