November 15, 2012 / 4:35 PM / in 5 years

UPDATE 1-U.S. approves Highstar-Veolia deal with conditions

WASHINGTON, Nov 15 (Reuters) - Highstar Capital will be permitted to move forward with its planned $1.9 billion acquisition of the U.S. unit of Veolia Environment VE SA if they meet certain conditions, the U.S. Justice Department said on Thursday.

The parties must divest commercial waste collection assets in northern New Jersey, central Georgia and the Macon, Georgia, area in order to overcome antitrust concerns, the department said in a news release.

As originally proposed, the deal would have reduced competition in commercial waste collection or disposal services in those areas, the department said.

The department filed both an antitrust lawsuit and a proposed settlement in federal court in Washington, D.C.

A Veolia spokeswoman had no comment. Highstar Capital did not immediately respond to a request for comment.

Infrastructure fund Highstar Capital has planned to make the purchase through its waste management arm, Star Atlantic Waste Holdings LP.

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