June 18th 2012
French utility, Veolia Environment is currently in talks with three consortia to sell their regulated UK water business; according to sources cited by the Wall Street Journal. Depending on regulatory clearance, the deal could be signed in July and closed by the end of the summer.
Veolia Water serves a population of more than 3.5 million across three different parts of the UK and is valued at £1 billion. The move is part of plans to shed €5 billion of assets, as part of an overhaul to address its lack of profitability and debt issues.