Veolia Environnement (VE) agrees to sell 90% of its regulated water unit in the U.K. for £1.24B...

|About: Veolia Environnement ADR (VEOEY)|By:, SA News Editor

Veolia Environnement (VE) agrees to sell 90% of its regulated water unit in the U.K. for £1.24B ($1.92B) to Rift Acquisitions, a JV between Prudential (PUK) and Morgan Stanley (MS). The sale is part of Veolia's strategy to quit half the 70 countries it operates in and sell assets worth €5B by 2013 as it seeks to cut its debt to below €12B. (PR)