The EU’s largest publically traded water firm Veolia Environment has reportedly reached a deal to divest certain assets to an Israeli company.
Reports say Veolia will sell its waster, waste and energy operations in Israel to Oaktree Capital Management. The deal will allow Veolia to cut debt by about $341 million, reports say.
Veolia, which is based in France, announced Thursday that the sale is part of the utility’s efforts to redirect its operations towards “less capital-intensive opportunities.”
The deal remains subject to regulatory approval from authorities in Israel.
Full content: Bloomberg
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