PARIS (dpa-AFX) - Veolia Environnement SA (VE),a provider of environmental management services, Wednesday said its subsidiary Veolia North America has agreed to sell Veolia North America Regeneration Services to private equity firm American Industrial Partners for an enterprise value of $620 million.
'The sulfuric acid regeneration business in the United States is not one of our key priorities and does not offer synergies with our core activities. Their disposal will enable us to create value and concentrate our investments on the 'boosters' of the GreenUp strategic plan,' said Estelle Brachlianoff, Veolia's Chief Executive Officer.
Veolia North America Regeneration Services, which includes sulfuric acid and hydrofluoric acid regeneration activities for refineries, had brought in revenues of about $350 million in 2023.
Veolia expects the deal to be concluded in the coming days.
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