Veolia says completes $1.9 bln U.S. unit sale

PARIS Wed Nov 21, 2012 2:05am EST

PARIS Nov 21 (Reuters) - Veolia Environnement 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.

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