Veolia Environnement Completes Purchase of 50% Proactiva Stake

Veolia Environnement SA (VIE) completed its purchase of a 50 percent stake in Proactiva Medio Ambiente from a Spanish company for 150 million euros ($204 million).

Madrid-based Fomento de Construcciones y Contratas SA’s sale of the stake makes Proactiva a wholly owned unit of Veolia, Paris-based Veolia said in a statement yesterday. Madrid-based Proactiva has regional operations in Latin America including Argentina, Brazil, Chile and Colombia, according to its website.

The deal “will enable Veolia Environnement to consolidate its position in Latin America in water, wastewater services and waste management in accordance with its strategy to develop in fast growing areas,” Veolia said.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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