GFL Expected to Start Sale of Environmental-Services Unit

SEATTLE (Waste Advantage): GFL Environmental is expected to officially begin the sale of its environmental-services unit this week amid interest from several strategic and private-equity firms. Private-equity bidders have valued the unit at between $6.5 billion and $7 billion.

The unit has seen interest for the entire business, and GFL also received a C$2 billion offer for a 30% stake in the division, according to CTFN. Potential strategic buyers include Republic Services, Waste Connections and Casella Waste Systems.

Bids for the environmental-services business are due by the third week of October, according to the report. The latest update on GFL comes after reports in early June that the company had hired JPMorgan to assess offers. The bank was reportedly advising on an offer for the entire business and another for the environmental services division.

Courtesy: www.wasteadvantage.com