Veolia Picks Potential Buyers For UK Water, US Solid Waste Units
16 Maio 2012 - 2:15PM
Dow Jones News
Antoine Frerot, Chief Executive of French waste and water
utility Veolia Environnement SA (VE), said it has selected
potential buyers for its U.K. water and U.S. solid waste units,
without identifying any.
During the company's annual shareholders meeting, Frerot said
the company plans to sell the assets this summer. He also said the
company started negotiations with an investor to sell its
transportation unit Veolia Transdev since February, though he
didn't identify the investor either.
People familiar with the negotiations recently told Dow Jones
Newswires three groups submitted indicative offers for the U.K. and
U.S. units. First group is led by AXA Private Equity, while the
second is led by GS Infrastructure Partners, a unit of Goldman
Sachs Group Inc. (GS), and the third is led by London-based Icon
Infrastructure.
The company's Chief Executive said he doesn't expect the company
will post a net loss in 2012, though this year and next will be
"demanding."
Veolia's Chief Financial Officer Pierre-Francois Riolacci said
the company has managed to cut its costs by EUR75 million this
year.
Separately, Veolia's shareholders appointed Jacques
Aschenbroich, the chief executive of auto part maker Valeo SA
(FR.FR), as Veolia's board member.
-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740;
inti.landauro@dowjones.com
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