Veolia to Buy Rest of Water Tech Unit in $1.75 Billion Deal
French environmental services company Veolia Environnement SA agreed to buy the rest of Water Technologies & Solutions for $1.75 billion as part of a drive to expand in the US. The acquisition of the 30% stake, currently owned by Caisse de Depot et Placement du Quebec, will allow Veolia to fully merge the business with its own water technology division, the utility said in a statement Wednesday. Combining the two will yield 90 million ($102 million) in cost synergies by 2027, it said. Veolia CEO Estelle Brachlianoff speaks to Francine Lacqua on Bloomberg Television.
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