Veolia Environnement:Continuation of Asset Divestitures
Veolia Environnement: Continuation of Asset Divestitures
Since August 2012, Veolia Environnement (Paris:VIE) has completed or signed several small and medium-sized asset divestitures pursuant to the implementation of the Company’s transformation plan. Certain divestitures have already been completed, while others will be finalized later this year or early next year. In total, these divestitures are expected to result in a reduction of net financial debt by around €350 million.
These divestitures include the sale of Ridgeline, a U.S. subsidiary specialized in wind power, to Atlantic Power, and the divestment of a portion of the Veolia Environmental Services operations in Switzerland, a waste-to-energy facility in Italy, as well as all Veolia Environmental Services operations in Estonia and Lithuania, and Dalkia operations in Switzerland and Estonia.
These divestitures are in addition to the €3 billion previously achieved by the divestitures of U.K. regulated Water activities in the United Kingdom and the U.S. Solid Waste business in the United States.
Given these achievements and the progress of other undertaken asset divestitures, Veolia Environnement confirms the company’s objective of divesting €5 billion in assets for the 2012-2013 period.
Veolia Environnement (Paris Euronext: VIE and NYSE: VE) is the
worldwide reference in environmental solutions. With more than 330,000
employees the company has operations all around the world and provides
tailored solutions to meet the needs of municipal and industrial
customers in four complementary segments: water management, waste
management, energy management and passenger transportation. Veolia
Environnement recorded revenue of €29.6 billion* in 2011.
* Excluding VeoliaTransdev revenues currently under divestment
Veolia Environnement is a corporation listed on the NYSE and Euronext Paris. This press release contains “forward-looking statements” within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors and uncertainties in particular include risks related to customary provisions of divesture transactions and those described in the documents Veolia Environnement has filed with the U.S. Securities and Exchange Commission. Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Veolia Environnement with the U.S. Securities and Exchange Commission from Veolia Environnement.
Press release also available on our web site: http://www.finance.veolia.com
Analyst and institutional investor contact:
Ronald Wasylec +33 1 71 75 12 23
US Investors contact:
Terri Anne Powers – Tel +1 312-552-2890
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