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GFL Environmental rose 4% on a report that two private equity groups have made offers for the company. GFL's special committee is evaluating the takeover offers with its adviser, according to traders who cited a CTFN report circulating on Friday that cited a source familiar with the matter. One group consists of private equity firms KKR, Blackstone, and Energy Capital Partners, while the other group includes Brookfield Asset Management and IFM Investors. The bids likely need to be at the top end of the $50 to $55 a share range that CTFN previously reported to get across the finish line, and GFL has also received interest from strategic buyers for certain markets or regions. GFL CEO Patrick Dovigi told Bloomberg TV last month that he is open to taking the company private at a higher valuation than it currently trades at, saying no decision has been made, and GFL is set to report Q3 results on Oct. 28.
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Climate Adaptation & Water › Waste Management & Circular Economy Capital
GFL · Capital · Positive Two private equity consortia submitted takeover bids for GFL, with the special committee evaluating the offers.
BAM · Capital · Neutral Named as part of a consortium bidding for GFL, but no specific terms or outcome for Brookfield are given.
BX · Capital · Neutral Named as part of a private equity group bidding for GFL, with no deal terms or impact specific to Blackstone.
KKR · Capital · Neutral Named as part of a private equity consortium bidding for GFL, but no specific terms or outcome for KKR.
Energy Capital Partners · Capital · Neutral Named as part of a private equity group bidding for GFL, with no deal terms or impact specific to Energy Capital Partners.
IFM Investors · Capital · Neutral Named as part of a consortium bidding for GFL, but no specific terms or outcome for IFM Investors.
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Ibaraki Governor Says No to Nuclear Waste Survey, Rules Out Hosting Final Disposal Site
Ibaraki Governor Kazuhiko Oigawa said at a regular press conference on the 2nd that he will not consent to moving to the second-stage preliminary survey in the process of selecting a final disposal site for high-level radioactive waste from nuclear power plants, so-called nuclear waste. He also ruled out accepting a final disposal site. On the final disposal issue, Hitachiomiya Mayor Sadayuki Suzuki in Ibaraki Prefecture stated on September 30 that the city would accept the first-stage literature survey. Proceeding to the preliminary survey requires the governor's consent as a precondition.
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Climate Adaptation & Water › Waste Management & Circular Economy Regulation
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Suchat Orders Pollution Control Department to Act on Oil Slick Flooding Prachin Buri, Vows Maximum Legal Action
Natural Resources and Environment Minister Suchat Chomklin has issued an urgent order for the Pollution Control Department to investigate a case in which an iridescent chemical film resembling used lubricating oil was found floating on the surface and mixing with floodwater in Hua Wa subdistrict, Si Maha Phot district, Prachin Buri province. The order followed complaints from local residents, the Ecological Restoration Foundation network, and the Prachin Buri provincial complaint center, who reported that contaminated water had overflowed from the industrial waste landfill pit of Green-Environment Technology Co., Ltd., which operates a factory for the sorting and landfill disposal of non-hazardous waste under Type 105 and Type 106 classifications. Dr. Surin Worakitthamrong, Director-General of the Pollution Control Department, disclosed that officials from the Regional Environment and Pollution Control Office 7 in Saraburi, together with the Prachin Buri provincial natural resources and environment office, collected water samples from a farmer's rice field that receives overflow from the factory area, at one point initially, before expanding the sampling to three more points for a total of four. The samples were sent for analysis at the laboratory of the Regional Environment and Pollution Control Office 7 in Saraburi and at the central laboratory of the Pollution Control Department, with detailed results still pending. On law enforcement measures, the Director-General of the Pollution Control Department has delegated authority to the Regional Environment and Pollution Control Office 7 in Saraburi to file a criminal complaint with investigators at Si Maha Phot Police Station to pursue criminal charges against all parties involved under the law. Evidence from the site, physical evidence, and the results of water contamination analyses will be gathered to bring those responsible to justice and to prevent long-term damage to the ecosystem and public health.
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Climate Adaptation & Water › Waste Management & Circular Economy ▼Regulation
Green Environment Technology Co., Ltd. · Regulation · Negative Pollution Control Department ordered an investigation and criminal charges against Green-Environment Technology over contaminated water overflowing from its industrial waste landfill pit.