Veolia Environnement Acquires Majority Stake in China Waste Firm
Veolia Environnement SA (VIE), the world’s biggest water company, acquired a majority stake in a Chinese environmental services firm that won a 25-year contract to process hazardous waste in Hunan province. Revenue over the period of the contract is expected to be about 320 million euros ($398 million), according to a statement today from a unit of the Paris-based waste and water utility.
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