Veolia to Sell Water, Waste, Energy Business in Israel

By Dow Jones Business News, 
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PARIS--Veolia Environnement (VIE.FR) said Thursday it had agreed to sell its water, waste and energy activities in Israel to global fund manager Oaktree Capital Management, as part of the group's strategy to refocus on less capital intensive businesses.

The sale will allow Veolia to cut its debt by about 250 million euros ($341.16 million) the French company said in a statement.

Completion of the deal is subject to approval by the Israeli Antitrust Authority and change of control authorizations common in such transactions, and is expected by the fourth quarter of 2014, it added.

Write to Noemie Bisserbe at noemie.bisserbe@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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