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…
