The Globe and Mail reports in its Thursday, Dec. 19, edition that GFL Environmental is in exclusive talks with Apollo Global Management to sell its environmental services division for about $8-billion. The Globe's Tim Kiladze and Robyn Doolittle write that after launching an auction earlier this year, Apollo has emerged as the likely buyer. The division provides liquid waste management and soil remediation services, making it attractive to private equity due to its predictable revenues. GFL has grown under several private equity owners and went public in March, 2020. An announcement about the deal is expected in early January, but negotiations are continuing, and terms may change. GFL faced a turbulent year in 2024, with its share price declining in the first five months due to concerns about its $9.5-billion debt, resulting in a loss of premium valuation compared with large U.S. competitors. Since its founding in 2007, GFL has expanded through debt-fuelled acquisitions and lost $2.5-billion since early 2020 due to interest expenses. With U.S. interest rates expected to stay high, investors are concerned about borrowing costs and the company's ability to finance future acquisitions.