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Apollo, BC Partners Near Deal for $5.6 Billion GFL Environmental Services Unit

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A consortium backed by Apollo Global Management Inc. and BC Partners is close to acquiring a controlling stake in GFL Environmental Inc.'s environmental services unit, in a deal that could value the business at about C$8 billion ($5.
Apollo Global Management Inc. and BC Partners are close to finalizing a deal to acquire a 51% stake in GFL Environmental Inc.'s environmental services unit for approximately $5.6 billion. This transaction values the entire unit at around $11 billion. GFL Environmental, a Canadian waste management company, has been exploring options to sell this division, which includes liquid waste, soil remediation, and other environmental services, to focus on its core solid waste operations. The deal, which could be announced as early as this week, involves GFL retaining a 49% interest in the business. The sale comes as part of GFL's strategy to streamline its operations and reduce its debt load, following a period of aggressive acquisitions.

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[ https://www.msn.com/en-us/money/economy/apollo-bc-partners-near-deal-for-5-6-billion-gfl-environmental-services-unit/ar-AA1x4ab6 ]