Gfl environmental inc. announces agreement to sell environmental services business valued at $8.0 billion

$8.0 billion valuation significantly exceeds management's initial expectations proceeds to be used to repay up to $3.75 billion of debt and for opportunistic share repurchases of up to $2.25 billion transaction allows gfl to roll $1.7 billion of equity in a tax efficient structure allowing for significant future value accretion pro forma net leverage 1 of 3.0x creates greater financial flexibility and accelerates path to investment grade reduces annualized cash interest by approximately $200 million, significantly improving adjusted free cash flow 1  conversion maintains synergies between environmental services and solid waste businesses vaughan, on , jan. 7, 2025 /prnewswire/ - gfl environmental inc. (nyse: gfl) (tsx: gfl) ("gfl" or the "company") today announced that it has entered into a definitive agreement (the "transaction agreement") with funds managed by affiliates of apollo (nyse:apo) (the "apollo funds") and bc partners (the "bc funds") for the sale of its environmental services business for an enterprise value of $8.0 billion (the "transaction"). gfl will retain a $1.7 billion equity interest in the environmental services business and expects to realize cash proceeds from the transaction of approximately $6.2 billion net of the retained equity and taxes.
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