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.
The agreement stipulates that the company will sell four liquid waste facilities in Western Canada and three tank farms.
GFL claims that the sites are expected to generate an annual aggregate revenue of around $20 million.
The Competition Bureau stated that Terrapure was GFLs closest competitor in terms of industrial waste services, oil recycling services in Western Canada, and that the acquisition would likely significantly reduce 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 that it would buy Terrapure’s solid and environmental waste business and its subsidiaries for approximately $927 million. The deal did not include Terrapures’ battery recycling business.
This report was published by The Canadian Press on April 14, 2022.
Companies in this story:
SHARE: