VAUGHAN, Ont. GFL Environmental Inc. has reached a deal to settle the dispute with the Competition Bureau. The Bureau had previously challenged Terrapure Environmental Ltd.’s purchase last year.
According to the agreement, the company will sell four liquid-waste facilities and three tank farm in Western Canada.
GFL estimates that the sites will generate about $20 million in annual revenue.
According to the Competition Bureau, Terrapure was GFL’s closest competitor in industrial waste services and oil recycling in Western Canada markets. The acquisition would likely result in substantially less competition.
It had filed a late-2013 application with the Competition Tribunal seeking a court order that GFL must sell any assets necessary for correcting the reduction in competition.
GFL announced last year a deal to purchase Terrapure’s solid waste and environmental solutions businesses and its subsidiaries for $927 million. The deal did not include Terrapures’ battery recycling business.
This report was published by The Canadian Press on April 14, 2022.
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