Bulgaria's Sofiyska Voda Sale Not Wrapped Up Yet

Business | June 23, 2010, Wednesday // 14:34|  views

The deal for the sale of several European water supply and treatment businesses from United Utilities, including Bulgaria's Sofijska Voda, to France's Veolia Environnement, the world's biggest listed water company, is yet to be finalized, it emerged on Wednesday.

“The deal for the sale has not been completed yet. When this happens the new owners will have a meeting with Sofia mayor Yordanka Fandakova and the chair of the municipal council Andrey Ivanov,” said Irina Savina, deputy mayor.

She added that the municipality has received a letter from Sofijska Voda, which assured that the company will stick to its investment program and continue the close dialogue with Sofia municipality.

The French utility will take a 58% stake in Sofiyska Voda, the company operating water supply and treatment services for the city of Sofia in Bulgaria, which serves 1.3 million inhabitants.

It will also buy 26% of Tallinn-based AS Tallinna Vesi and a third of Aqua SA, which provides water for the Polish city of Bielsko Biala.

Veolia will also take over a number of outsourcing, industrial engineering and infrastructure contracts in the UK to boost its position in the country's non-regulated water sector, as well as taking stakes in Scottish waste treatment contracts.

The price of the deal is some EUR 199 M.

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Tags: Sofijska Voda, Veolia Environnement, United Utilities

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