French Utility Takes Over LatAm JV

French Utility Takes Over LatAm JV

Brazil Mexico Europe M&A

French waste and water utility Veolia Environnement has agreed to buy the remainder of its Proactiva Latin American joint venture from partner Fomento de Construcciones y Contratas, it says. It will pay the Spanish construction firm EUR150m ($197m) for the 50% stake. The move is the Veolia's first buy since it embarked on a debt reduction program three years ago that has seen it sell positions abroad. Founded in 1999, Proactiva operates in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Per

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