Veolia sells off its water in the capital
Friday 29 June 2012
Veolia, the French utilities giant, yesterday sold its water business which supplies several London boroughs, to Rift Acquisitions, a joint venture of managed infrastructure investment funds run by Prudential and Morgan Stanley, in a deal worth £1.2bn.
Veolia's remaining water business in Britain is an outsourcing division which manages infrastructure and carries out water treatment.
This is the first major sell-off by the world's largest water supplier as it attempts to cut its debt pile.
It plans to get borrowings below €12bn (£9.6bn) by the end of 2013.
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