Veolia announced the completion of the sale of its 65% stake in Marius Pedersen Group, for €240 million (US$328.5 million) to Entreprenør Marius Pedersens Fond (Marius Pedersen Foundation).
This transaction will contribute to Veolia's debt reduction by the amount of the divestment in 2014. It is part of Veolia's development strategy and geographic refocusing in areas where the group can bring higher value to its clients and stakeholders, as defined by Chairman and Chief Executive Officer Antoine Frérot at end 2011.Marius Pedersen Foundation is already the owner of the remaining 35% of Marius Pedersen Group.
On 6 June 2014 Veolia signed an agreement with Entreprenør Marius Pedersens Fond for this transaction.
Marius Pedersen A/S is a Danish company which owns a wide range of technologies for waste transport, treatment and recycling, such as: sorting lines, compressing technologies, alternative fuel production lines, compressing and plastic regraining (regranulation) lines, solidification lines, and equipment for biodegradation of oil product contaminated materials, composting plants. The firm is specialized in: