Veolia to Buy CDPQ's Stake in Water Technologies and Solutions for $1.75 Billion
Veolia is taking full ownership of Caisse de depot et placement du Quebec's Water Technologies and Solutions subsidiary.
Photo: valentine chapuis/Agence France-Presse/Getty Images
Veolia VIE 0.75%increase; green up pointing triangle said it agreed to buy Caisse de depot et placement du Quebec's minority stake in its Water Technologies and Solutions subsidiary for $1.75 billion, taking full ownership of the subsidiary.
The French utility and resource-management company said Wednesday that the deal for CDPQ's 30% stake will allow it to achieve cost savings and accelerate earnings growth at the business while simplifying its structure.
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