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Veolia Environnement (VE) intends to sell most of the businesses in its subsidiary USFilter to reduce its US$13 billion debt load. VE will sell USFilter's Consumer & Commercial business and its combined Systems and Services & Products business, but will retain the Operating Services and Engineering & Construction division, which it says is more aligned with its core business of long-term service contracts with municipalities and industries. USFilter's Consumer & Commercial division comprises Culligan and Everpure, which operate in the residential and commercial water treatment sectors and have annual sales of more than US$740 million. The USFilter Systems and Services & Products business is the largest water and wastewater treatment equipment and associated services company in the world, with annual revenues of US$1.2 billion, and an installed base of thousands of installations. "As VE more precisely defined their strategic focus around long-term operating contracts, much of the USFilter business scope fell outside of their definition," said Andy Seidel, CEO of USFilter. Seidel estimates that it could take up to a year to find a buyer. VE, formerly Vivendi Environnement, was spun off from media group Vivendi Universal this year. It acquired USFilter four years ago for almost US$8.5 billion including debt. The sale of the USFilter assets continues efforts to reverse a costly series of acquisitions undertaken by former Vivendi Universal chief Jean-Marie Messier. VE has already raised about 2 billion from the sale of USFilter assets.
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