ENP Newswire - 02 July 2014
Release date- 01072014 - Veolia announced the completion of the sale of its 65% stake in Marius Pedersen Group, for EUR240 million to Entreprenor Marius Pedersens Fond.
This transaction will contribute to Veolia's debt reduction by the amount of the divestment in 2014. It is part of Veolia's development strategy and geographic refocusing in areas where the Group can bring higher value to its clients and stakeholders, as defined by Chairman and Chief Executive Officer Antoine Frerot at end 2011.
Marius Pedersen Foundation is already the owner of the remaining 35% of Marius Pedersen Group.
Veolia is the global leader in optimized resource management. With over 200,000 employees worldwide, the company designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them.
In 2013, Veolia supplied 94 million people with drinking water and 62 million people with wastewater service, produced 86 million megawatt hours of energy and converted 38 million metric tons of waste into new materials and energy. Veolia (Paris Euronext: VIE and NYSE: VE) recorded revenue of EUR22.3 billion in 2013.
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Veolia Environment 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 Environment has filed with the U.S. Securities and Exchange Commission. Veolia Environment 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 Environment with the U.S. Securities and Exchange Commission from Veolia Environment.