GFL Environmental To Sell Stake In Environmental Services Business: Debt Reduction & Stock Buyback On The Cards
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 07 2025
0mins
Source: Benzinga
GFL Environmental Inc. Sale Agreement: GFL Environmental announced a deal to sell its Environmental Services business to Apollo Global Management and BC Partners for an enterprise value of C$8.0 billion, while retaining a 44% equity interest and expecting net cash proceeds of approximately C$6.2 billion.
Financial Strategy Post-Transaction: GFL plans to use up to C$3.75 billion of the proceeds to repay debt and C$2.25 billion for share repurchases, aiming to improve its balance sheet and accelerate its path to an investment-grade credit rating.
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Analyst Views on APO
Wall Street analysts forecast APO stock price to rise
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 109.790
Low
136.00
Averages
164.45
High
182.00
Current: 109.790
Low
136.00
Averages
164.45
High
182.00
About APO
Apollo Global Management, Inc. is a global alternative asset manager and a retirement services provider. It operates through three segments: Asset Management, Retirement Services and Principal Investing. The Asset Management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across its platform based on relative risk and return. The Retirement Services business is conducted by Athene Holding Ltd (Athene), a financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. Athene product lines include annuities and funding agreements. The Principal Investing segment includes realized performance fee income, realized investment income from its balance sheet investments, and certain allocable expenses related to corporate functions supporting the entire company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Liability Transfer Issues: Accountant Tom Gober points out that insurers are transferring billions in liabilities to offshore reinsurance subsidiaries that do not file US financial statements, which may lead to decreased financial transparency and increased regulatory risks.
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- Investor Sentiment Shift: In the most recent quarter, investors withdrew nearly 8% from Blackstone's flagship private credit fund, indicating a growing caution among allocators regarding the market's stability.
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See More
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- Increased Regulatory Pressure: Teachers' unions have requested an SEC investigation into Apollo's 'lack of candor', indicating a decline in investor trust regarding corporate governance and information disclosure, which could affect future investor relations.
- Potential Legal Consequences: Hagens Berman is investigating whether Apollo misled investors, and if the lawsuit succeeds, it could result in substantial damages and reputational harm for the company, further impacting its market position and investor confidence.
See More
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- Market Concerns: The situation has intensified worries regarding the weakening fundamentals of the private lending market, especially in light of geopolitical tensions.
See More
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- Investor Rights: Shareholders who suffered losses are encouraged to contact DJS Law Group to participate in the lawsuit, noting that appointment as lead plaintiff is not required for recovery, thus providing a potential avenue for compensation.
- Legal Expertise: DJS Law Group specializes in securities class actions and corporate governance litigation, focusing on enhancing investor returns through balanced counseling and aggressive advocacy, serving some of the largest hedge funds and alternative asset managers globally.
See More
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- Liquidity Structure Scrutiny: The expansion of private credit into retail investors has intensified scrutiny over its liquidity structures, with Moody's warning that balancing high returns with retail-like liquidity will continue to be tested as the sector evolves.
- Asset Management Strategy Adjustment: Blackstone plans to increase its share buyback to 7% to meet redemption requests, demonstrating its response strategy under liquidity pressure while also reflecting a commitment to maintaining market confidence.
- Market Risk Intensification: Concerns over loan quality and AI-related risks have led to declines in stock prices for Blackstone and other alternative asset managers, indicating a weakening market confidence in the private credit industry.
See More
