Veolia Sheds UK Water Biz In $2B Deal To Shave Debt

Law360, New York (June 28, 2012, 3:35 PM EDT) -- French utility Veolia Environnement SA will unload most of its U.K.-regulated water business to a Morgan Stanley unit and Infracapital Partners LP for £1.2 billion ($1.9 billion), furthering a broader plan to shed €5 billion ($6.2 billion) in assets through 2013, the parties said Thursday.

In the deal, the French waste and water company will hang onto a 10 percent stake in Veolia Water RegCo, the U.K.'s second-largest regulated water-only operation. The Infracapital-Morgan Stanley consortium, under the banner of Rift Acquisitions Ltd., will take over the...
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