VAUGHAN, Ont. GFL Environmental Inc. has announced that it has reached a deal to settle with the Competition Bureau. The Bureau had challenged Terrapure Environmental Ltd.’s purchase last year.
VAUGHAN, Ont. GFL Environmental Inc. has announced that it has reached a deal to settle with the Competition Bureau. The Bureau had 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.
The Competition Bureau stated that Terrapure was GFL’s closest competitor for industrial and oil recycling services in Western Canada, and that the acquisition likely reduced competition.
It had filed a late-2013 application to 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, which did not include Terrapure’s battery recycling business was closed in August.
This report was published by The Canadian Press on April 14, 2022.
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