Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Veolia Waste Sale in U.S. ‘Probably Next,’ Bank of America Says

June 29 (Bloomberg) -- Veolia Environnement SA, which sold a U.K. unit to a Morgan Stanley-backed venture yesterday to cut debt, may dispose of its U.S. waste unit next, Bank of America Corp. said in a note.

“Veolia’s U.K. water sale was widely expected,” Bank of America’s Merrill Lynch unit research analyst Pinaki Das said in a note today. “The remaining 3.5 billion euros ($4.4 billion) of planned disposals include Transdev, U.S. waste and other smaller assets.”

Transdev is a mass-transit unit the company co-owns while the U.S. unit is Milwaukee-based Veolia ES Solid Waste Inc. “The 25 percent Berlinwasser stake could also be sold,” the note said. “A U.S. waste disposal is probably next in line.”

Veolia sold the U.K. unit to Infracapital Partners for about 1.2 billion pounds ($1.9 billion) as Chief Executive Officer Antoine Frerot cuts the Paris-based waste and water utility’s debt.

Link to Company News:{PNN LN <Equity> CN <GO>} Link to Company News:{SVTA LN <Equity> CN <GO>} Link to Company News:{UU/ LN <Equity> CN <GO>} Link to Company News:{VIE FP <Equity> CN <GO>}

To contact the reporter on this story: Randall Hackley in Zurich at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.