17 jul: Test
24 jul: Bobler fra dybet fik hammerslag på rekordpriser ved nyligt afhold..
19-07-2012 10:35:00

Veolia Sells US Assets, As Part Of Planned Disposals

Relateret indhold

PARIS--Veolia Environnement SA (VE) has sold its U.S. waste business for 1.91 billion dollars to Star Atlantic Waste Holdings LP, making another significant step towards its planned streamlining and transformation to address its deteriorated profitability and cut its substantial debt, after the sale of some U.K. activities late June.

The transaction with Star Atlantic Waste, a portfolio company of U.S.-based infrastructure fund manager Highstar Capital, will allow Veolia to reduce its net debt by around 1.82 billion dollars, the company said.

The disposal follows that of its U.K. regulated water activities in late June, as the group has been seeking to sell around 5 billion euros (6.15 billion dollars) worth of assets to restore its profitability and its financial room for maneuver following an accounting fraud in the U.S. and substantial write-offs last year due to poor performances in southern Europe and northern Africa. The downsizing is all the more crucial as the economic crisis deepens in Europe and municipalities, troubled by financing issues, question contracts to handle their water networks and waste.

"It was more or less expected but this is nevertheless very positive for Veolia," a Paris-based trader said. Shares closed Wednesday at 9.22 euros (11.33 dollars) after having lost nearly half of its value over the past year on worries related to the debt and the drop in profitability as well as the economic headwinds.

"The transformation of Veolia is progressing as planned," Veolia Chairman Antoine Frerot said in a statement.

Besides its U.K. water activities and the U.S. solid waste business, which both represent 60% of the 5 billion euros worth of assets Veolia committed to sell by the end of next year, the French group plans to sell part of its stake into public transport group Transdev.

But the disposal seems to be proceeding less smoothly as French state-owned financial firm Caisse des Depots et Consignations, which owns half of Transdev, has turned down a proposal by investment fund Cube, a unit of French bank Natixis (KN.FR). It is also reported to have rejected the possibility of increasing its own stake by buying some of Veolia's shares as it has no ambition to play a key role in developing large urban transportation networks.

Veolia has initiated discussions with an industrial group as a contingency plan, a person familiar with the matter has told Dow Jones Newswires in June.

In the meantime, Veolia could well dispose of its stake in Berliner Wasserbetriebe, or BWB, a German water utility which is now majority-owned by the city state of Berlin, since German utility RWE AG (RWE.XE) signed an agreement to sell to Berlin its minority stake. Veolia, which owns 24.95% of BWB, previously said it was also willing to sell its stake in the water utility as it doesn't have the control over the utility strategy anymore.

In 2011, Veolia's U.S. solid waste businesses had revenue of $818 million, operating cash flow of $212 million and operating income of $110 million. In the U.S., the group intends to continue its activities in hazardous waste and industrial services following the disposal.

-Write to Geraldine Amiel at geraldine.amiel@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 19, 2012 04:35 ET (08:35 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Mærsk-aktien får comeback og har bedste børsdag i fire måneder

24-11-2017 15:11:54
A.P. Møller-Mærsk har haft en hård periode på børsen efter selskabets regnskab tidligere på måneden, men fredag får aktien lidt tiltrængt medvind.Aktien stiger fredag eftermiddag 3,6 pct. til 10.500 kr., hvilket er den højeste stigning på én dag siden begyndelsen af juli.- Mærsk-aktien har fået rimeligt mange klø på det seneste, og så skal man også have in mente, at der er tynd volumen i markedet ..

Mærsk: Rateindeks falder til laveste i 15 måneder trods lyspunkt -NY

24-11-2017 13:35:30
SCFI-indekset over rateudviklingen på en stribe ruter fra Shanghai og ud i verden faldt igen denne uge.Indekset faldt 3,9 pct. til 705,2, viser nye data fra Shanghai Shipping Exchange, og tager dermed sit tredje dyk i træk. Indekset ligger nu på det laveste niveau siden august 2016.Ugens aflæsning er desuden 16 pct. lavere end snitniveauet hidtil i år. Raterne dykkede, selv om der var mere positiv..

Aktier/åbning: Køkkenkoncern får rolig børsdebut i uændret marked

24-11-2017 09:14:57
Køkkenkoncernen TCM Group, der blandt andet ejer brands som Svane Køkkenet og Tvis Køkkener, får fredag en noget stille debut på den københavnske fondsbørs.Resten af markedet udvikler sig også generelt roligt, og der er heller ikke større nyheder eller kommende offentliggørelser på tapetet. Det danske eliteindeks stiger knap 0,1 pct. til 1115,86 kort efter børsåbningen.Herhjemme er C20 Cap-indekse..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Genmab/Jyske: Resultatet før skat vil nærme sig 5 mia. kr. i 2019 - NY
2
C20 Cap har haft længste nedtur i tre år
3
Analytiker: Boligejere med variable lån risikerer at udhule friværdien
4
Fredagens aktier: Mærsk og FLSmidth hver sin vej i rødt C20
5
Ryanair truer ansatte - de sælger ikke nok i flyene

Relaterede aktiekurser

Veolia Environ 21,04 0,0% Aktiekurs uændret
Natixis 6,61 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
25. november 2017 08:41:26
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20171124.1 - EUROWEB1 - 2017-11-25 08:41:26 - 2017-11-25 08:41:26 - 1 - Website: OKAY