Veolia Sheds Morocco Biz In €370M Sale To PE Firm

Law360, New York (March 8, 2013, 3:57 PM EST) -- Veolia Environnement SA will hand over its Moroccan water, wastewater and electricity operations to British private equity firm Actis Capital LLP in exchange for €370 million ($484.3 million), the French utility said Friday, the latest in a string of debt-slashing deals.

Actis did not offer a financing breakdown for the deal, which is expected to close this year pending approval from Moroccan authorities. The private equity firm, known for its investments in emerging markets in Africa, could not immediately be reached for comment.

The sale covers...
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