GFL Expects to Reap $4.3 Billion From Environmental Services Deal

GFL Environmental Inc. has received interest from several buyers for its environmental services business and expects to sign a deal before the end of the year.

The Vaughan, Ontario-based waste management company expects to net a minimum of C$6 billion ($4.3 billion) after tax from the sale, Chief Executive Officer Patrick Dovigi said in a statement accompanying its third quarter results. GFL will use the money to repay at least C$3.5 billion of debt with the remainder available for share buybacks or other purposes, he said.