Veolia says completes $1.9 billion U.S. unit sale
PARIS (Reuters) - Veolia Environnement (VIE.PA) said it completed the sale of its U.S. solid waste business to ADS Waste Holdings for $1.9 billion as the French waste and water group seeks to cut debt.
The deal, which won U.S. regulatory approval last week on condition of certain asset disposals, has enabled Veolia to reduce net debt by about $1.84 billion, it said on Wednesday.
The group has pledged to divest 5 billion euros ($6.4 billion) in assets by the end of next year.
"Veolia will continue to grow its hazardous waste and industrial services businesses in North America," Veolia said.
ADS Waste Holdings is owned by infrastructure fund Highstar Capital. ($1 = 0.7811 euros)
NEW YORK - Several major U.S. retailers posted disappointing sales for November after shoppers remained cautious about spending, the latest sign that the holiday season is shaping up to be the toughest in years.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.