Veolia sells renewable energy investment unit - report
Oct 10, 2011 - French waste management company Veolia Environnement (EPA:VIE) has sold its unit Eolfi Asset Management (Eolfi AM), specialising in wind and solar power investments, French daily La Tribune reported today, without disclosing its sources.
Chairman and founder Alain Delsupexhe has bought the company for an undisclosed sum from its parent Eolfi SA, a unit of Veolia.
Eolfi AM wants to focus on its core business, the development of wind and solar projects, a spokesperson for Veolia said.
Veolia announced in early August a new restructuring plan, aimed at reducing its size and becoming more profitable, after registering a net loss of EUR 67.2 million (USD 90.5m) in the second quarter of 2011.
The company may also sell other units, such as Proxiserve, specialising in the maintenance of heating equipment, and Domeo, which provides household services.