RE: STRUCTURING
- From: Vol 12, Issue 8 (August 2011)
- Category: Need to know
- Region: Unspecified
- Country: Australia and United Kingdom
- Related Companies: Severn Trent, Siemens Water Technologies , Suez Environment and Veolia Environnement (formerly Vivendi Environnement)
It was a shocking month for Veolia Environnement, as shares in the world’s largest water company lost more than 40% of their value within the space of two weeks, largely owing to a profit warning and a poor set of half-year results at the start of August.
CEO Antoine Frérot announced €800 million of asset impairments and write-downs, and gave an early hint of the restructuring efforts to come. The decision to drop the number of countries it operates in from 77 to 40 did not seem to reassure investors, who will have to wait until a planned investor day in early December to receive further ...
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