Global fund manager Oaktree Capital Management is buying the activities.
France's Veolia Environnement SA (Euronext: VE) has signed an agreement for the sale of its water, waste and energy activities in Israel to Los Angeles-based global investment fund manager Oaktree Capital Management L.P.
Veolia said the deal will reduce its debt by €250 million and is part of its strategy to refocus the Group geographically and to concentrate on areas where it can seize less capital intensive opportunities.
Closing of the deal requires approval of the Israel Antitrust Authority and change of control authorizations common in such transactions. Veolia hopes to close the deal by the fourth quarter of 2014.
Published by Globes [online], Israel business news - www.globes-online.com - on July 10, 2014
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