BUZZ-GFL rises after deal to sell its environmental services business

** U.S.-listed shares of Canadian waste management company GFL Environmental GFL.TO rise 2.1% to $44.96 premarket

** Agrees to sell its environmental services business to Apollo Global Management APO.N and BC Partners in a deal valued at C$8 billion ($5.59 billion)

** GFL to use proceeds to repay up to C$3.75 billion of debt and for potential share buybacks of up to C$2.25 billion

** Will retain 44% equity interest in the Environmental Services business while Apollo Funds and BC Funds to each hold a 28% equity interest

** GFL stock gained 40.2% in 2024

($1 = 1.4312 Canadian dollars)

(Reporting by Abhinav Parmar in Bengaluru)

((Abhinav.Parmar@thomsonreuters.com))