GFL Environmental signs US$835-million deal to buy assets in 10 U.S. states

GFL Environmental signs US$835-million deal to buy assets in 10 U.S. states
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VAUGHAN, Ont. — GFL Environmental Inc. has signed a deal to buy a portfolio of integrated solid waste collection, transfer, recycling and disposal assets in the United States for US$835 million.

GFL says the deal will significantly expand its U.S. footprint.

The assets are being sold as a result of the acquisition of Advanced Disposal Services Inc. by a wholly owned subsidiary of Waste Management Inc.

They include 32 collection operations, 36 transfer stations and 18 landfills supported by 380 collection vehicles across 10 U.S. states.

The acquisition is subject to certain customary closing conditions, including approval by the U.S. Department of Justice and the closing of the WM-ADS Transaction.

It is expected to close in the third quarter.

This report by The Canadian Press was first published June 24, 2020.

Companies in this story: (TSX:GFL)

 

The Canadian Press

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