Veolia, the world's largest water utility, went on an acquisition spree as its share price soared in the run-up to the financial crash, buying into Paris-based renewables developer Eolfi in 2007. The following year Eolfi purchased Ridgeline for $72m.
In recent years, however, Veolia’s fortunes have reversed, and having swallowed a €800m ($1.02bn) write-down last December – driven by the sluggish European economy, but also by poor integration of its array of international divisions – it is now engaged in a major divestment programme to reduce its debt load.
Boston-based
