BC Partners is discussing carrying a portion of its minority stake into a possible acquisition of GFL Environmental Inc., as the Canadian waste management company's sale process continues.
GFL's stock narrowed its losses and traded above its prior close for a short time Monday. Both buyer groups remain involved in the process, although one is at a more advanced stage.
Bloomberg's September account divided the interested parties between KKR & Co., Energy Capital Partners and Blackstone Inc. on one side, and Brookfield Asset Management and IFM Investors on the other. It did not disclose which group was further along.
On July 29, GFL disclosed initial approaches from several parties interested in taking the company private. The board assigned follow-up talks to a special committee of independent directors, and GFL has announced no sale agreement.
GFL plans to release third-quarter results after market close Oct. 28 and hold an investor call at 8:30 a.m. ET Oct. 29.
