Competition Bureau challenging GFL purchase of Terrapure Environmental

·1 min read

OTTAWA — The Competition Bureau is challenging GFL Environmental Inc.'s purchase of Terrapure Environmental Inc.

The regulator says Terrapure was GFL's closest competitor for industrial waste services and oil recycling services in markets in Western Canada.

It says the deal has likely substantially lessened competition in the collection and processing of industrial waste on Vancouver Island, in the British Columbia Interior and in central Alberta.

It also says the transaction is likely to reduce competition for oil recycling services in eight regions across British Columbia, Alberta and Saskatchewan.

The bureau has filed an application with the Competition Tribunal for a court order requiring GFL to sell any assets necessary to remedy the likely substantial lessening of competition.

GFL announced a deal last March to buy the solid waste and environmental solutions business of Terrapure and its subsidiaries for about $927 million. The deal, which excluded Terrapure's battery recycling business, was completed on Aug. 17.

This report by The Canadian Press was first published Dec. 1, 2021.

Companies in this story: (TSX:GFL)

The Canadian Press

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