Veolia Environnement SA Signs Agreement With Fomento de Construcciones y Contratas SA To Own 100% Of Proactiva

Monday, 10 Jun 2013 02:15am EDT 

Veolia Environnement SA announced the signature of an agreement to acquire the 50% stake held by Fomento de Construcciones y Contratas SA (FCC) in Proactiva Medio Ambiente. The transaction would amount to EUR150 million and would make Proactiva a wholly owned Veolia Environnement subsidiary. Formed in 1999, Proactiva is a 50-50 joint venture between Veolia Environnement and FCC. Proactiva is among the major players in environmental solutions for public authorities and businesses in Latin America. This acquisition, made in line with Veolia`s usual profitability criteria, is expected to be finalized by the end of 2013. 

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