Waste Connections to Acquire C$1.08 Billion in Assets From Secure Energy Services
By Adriano Marchese
Waste Connections has agreed to acquire 30 energy waste treatment and disposal facilities in Western Canada from Secure Energy Services for 1.08 billion Canadian dollars ($795 million) in cash.
The Canadian solid waste services company said Monday the assets include 18 treatment, recovery and disposal facilities, six landfills, four saltwater disposal injection wells and two disposal caverns.
The disposal by Secure Energy is part of the Canadian Competition Tribunal-mandated divestitures after Secure Energy merged with environmental and energy services company Tervita.
Waste Connections said the waste treatment and disposal facilities are located in Canada's oil and gas basins and serve a diverse customer base largely oriented to energy production.
The combined annual revenue produced by the portfolio of assets is currently estimated at about C$300 million.
On top of the sale price, there are about C$75 million of adjustments as part of the agreement.
The transaction is expected to close in the first quarter of next year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 11, 2023 07:42 ET (12:42 GMT)
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