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Canada’s main stock index fell on Tuesday, weighed by energy and material stocks, as data showed that foreign investment in Canadian securities was the lowest in six months in January. Foreign investors bought a net C$1.27 billion ($1.02 billion) in Canadian securities in January, led by provincial government bonds, Statistics Canada said.
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Try refreshing your browser, or TSX falls dragged by energy stocks, weak data Back to video At 9:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 39.68 points, or 0.21%, at 18,915.07. The energy sector dropped 1.5% as U.S. crude prices were down 1.7% a barrel and Brent crude lost 1.5%.
Dive Brief:
GFL Environmental announced an agreement late Monday to acquire Canadian company Terrapure Environmental s Solid Waste and Environmental Solutions business, excluding its battery recycling operations, for $927.5 million. Pending regulatory approval, the deal could close by the third or fourth quarter.
Terrapure reported $365 million in revenue last year, amid effects of the pandemic, and offers a range of solid waste and liquid waste services. The relevant division currently services more than 7,000 customers, with an estimated 1,600 employees and more than 500 collection vehicles.
In addition to solidifying GFL s Canadian presence, executives consider the deal attractive because it includes the Stoney Creek industrial landfill near Toronto. That site, permitted for up to 750,000 metric tons per year, recently received approval for a vertical expansion expected to add 14 years to its lifespan.
GFL continues acquisition spree, buying Terrapure assets for $927 5M bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
GFL Environmental Announces Proposed Acquisition of Terrapure Environmental
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VAUGHAN, ON, March 15, 2021 /PRNewswire/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ( GFL or the Company ), a leading North American diversified environmental services company, today announced that it has entered into a definitive agreement to acquire the solid waste and environmental solutions business of Terrapure Environmental Ltd. and its subsidiaries (collectively, Terrapure ) for an aggregate purchase price of C$927.5 million (the Acquisition ). The Acquisition will exclude the battery recycling business carried on by Terrapure.
Terrapure is an integrated provider of solid and liquid waste management and industrial services to more than 7,000 customers across Canada. Terrapure s environmental and organics solutions cover a diverse range of waste streams from generation through collection, processing, recovery, recycling, reuse and dis