|Veolia sells its activities in Israel
July 10, 2014--Veolia has signed an agreement with funds managed by Oaktree Capital Management, L.P., a global investment manager, for the sale of its water, waste and energy activities in Israel.
This transaction will contribute to Veolia’s debt reduction by around €250 million. It is part of Veolia’s strategy to refocus the Group geographically and to concentrate on areas where it can seize less capital intensive opportunities, as defined by its Chairman and Chief Executive Officer Antoine Frérot at the end of 2011.
Closing of the transaction is subject to the approval of the Israeli Antitrust Authority and change of control authorizations common in such transactions. It is expected by Q4 2014.