Veolia Environnement sells its water and wastewater activities in Portugal for €95 million

Veolia Environnement has signed an agreement with Beijing Enterprises Water Group to sell its subsidiary Veolia Water in Portugal (CGEP - Compagnie Générale des Eaux du Portugal - Consultadoria e Engenharia) for €95 million. This amount will be fully allocated to the Group's debt reduction program in 2013.

This transaction is subject to customary precedent conditions.

This divestment reflects Veolia Water's decision to refocus its portfolio of contracts and the company's development strategy based on higher value-added solutions.

CGEP holds four concession contracts to operate public water and wastewater services and also provides services to public and private sector companies. It serves 270,000 people, mainly in the north of the country.

CGEP's annual revenue amounts to €42 million, with 423 people employed.

BBVA acted as an advisor of Veolia Environnement on this sale.

Important Disclaimer

Veolia Environnement is a corporation listed on the NYSE and Euronext Paris. This press release contains "forward-looking statements" within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors and uncertainties in particular include risks related to customary provisions of divesture transactions and those described in the documents Veolia Environnement has filed with the U.S. Securities and Exchange Commission. Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Veolia Environnement with the U.S. Securities and Exchange Commission from Veolia Environnement.


Source: http://www.veolia.com/en/medias/press-releases/sell-subsidiary-veolia-water-portugal.htm


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