Veolia to Buy Rest of Water Tech Unit in $1.75 Billion Deal (2)

French environmental services company Veolia Environnement SA agreed to buy the rest of Water Technologies & Solutions for $1.75 billion as part of a drive to expand in the US.

The acquisition of the 30% stake, currently owned by Caisse de Depot et Placement du Quebec, will allow Veolia to fully merge the business with its own water technology division, the utility said in a statement Wednesday. Combining the two will yield €90 million ($102 million) in cost synergies by 2027, it said.

Veolia is seeking to boost exposure to the industrial water sector, notably in America, where it ...