Berlinwasser rescued from bankruptcy
- From: Vol 3, Issue 6 (June 2002)
- Category: Companies
- Region: Europe
- Country: Germany
- Related Companies: Berlinwasser, Ondeo, RWE and Veolia Environnement (formerly Vivendi Environnement)
Europe’s largest municipal water services group Berlinwasser Holding has been rescued from the brink of collapse after its two shareholders, the state of Berlin and a consortium of RWE and Vivendi, agreed to put up guarantees for the company totalling €158 million.
The state of Berlin holds the majority 50.1% of the company, while RWE and Vivendi own 49.9% between them. The shareholders had struggled to reach agreement over the financing structure despite negotiations stretching over several weeks.
Berlin finance senator Gregor Gysi has now pledged to present a plan by the end of the year for reorganising the holding ...
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