A consortium of infrastructure funds and sovereign wealth funds have teamed up on a bid to split the cost of GFL’s $17.8-billion valuation, person familiar with the matter tells The Globe
has retained J.P. Morgan to assess two buyout offers – one for the entire business and another for its environmental services division, according to a source familiar with the matter.
The Globe and Mail is not identifying the source because they are not authorized the discuss the information publicly. GFL declined to comment. Private equity and infrastructure funds are flush with cash and have been looking for discounted investment opportunities. In a note to clients on Tuesday, Jefferies analyst Stephanie Moore wrote that GFL has steady cash flows that make it attractive to private owners – adding that the company already has a history of private equity ownership.
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