This sale is subject to approval by the Senate and Parliament of Berlin, as well as EU antitrust authorities, and is expected to be finalized by the end of the year.
Veolia's commitment in Berlinwasser dates back to the partial privatization of the municipal water and wastewater company in 1999. Since the sale by RWE of its shares in Berlinwasser in 2012, the State of Berlin has retained control over the company with a 75.05% share and has agreed with Veolia to achieve full control. This fruitful partnership has succeeded in a substantial modernization of the company, which has improved efficiency while securing the highest ecological and social standards and continuous infrastructure investment.
Veolia Environnement will remain active in Germany and continue to grow its water and waste management operations for municipal and industrial clients, in line with the strategic priorities of development and profitable growth as defined and implemented for the past 18 months by Antoine Frérot, Chairman and Chief Executive Officer.
"The decision to end this partnership has been taken in mutual agreement with the State of Berlin. For Veolia, Germany otherwise remains one of the most important countries with an excellent potential for future development."
Veolia Environnement is a corporation listed on the NYSE and Euronext Paris. This press release contains "forward-looking statements" within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors and uncertainties in particularinclude risks related to customary provisions of divesture transactions and those described in the documents Veolia Environnement has filed with the U.S. Securities and Exchange Commission. Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Veolia Environnement with the U.S. Securities and Exchange Commission from Veolia Environnement.
Laurent Obadia - Sandrine Guendoul (Group)
+ 33 1 71 75 12 52
Matthias Kolbeck (Germany)
+49 (0)30 206 29 56 - 73
Analyst and investor relations
+ 33 1 71 75 12 23
Ariane de Lamaze
+ 33 1 71 75 06 00
Terri Anne Powers (US)
+ 1 312 552 2890
Veolia Environnement (Paris Euronext: VIE and NYSE: VE) is the worldwide reference in environmental solutions. With 220,000 employees*, the company has operations all around the world and provides tailored solutions to meet the needs of municipal and industrial customers in three complementary segments: water management, waste management and energy management. Veolia Environnement recorded revenue of €29.4 billion*in 2012.
(*) Excluding VeoliaTransdev employees and revenues currently under divestment