Energy Capital Buys GFL’s Infra Stake in $3.1 Billion Deal

Energy Capital Partners signed a deal to acquire a stake in GFL Environmental Inc.’s infrastructure affiliate, valuing the business at about C$4.25 billion ($3.1 billion) including debt.

Funds managed by Energy Capital will invest in Green Infrastructure Partners, according to a statement Thursday that confirmed an earlier report by Bloomberg News. GIP will receive about C$175 million for its own balance sheet and C$585 million will go to its shareholders, including GFL, a publicly traded company based in the Toronto region.