Gillian Tan, Francois De Beaupuy, and Scott Deveau; Bloomberg
French water and waste-treatment company Veolia Environnement SA is seeking more than $1 billion for its North American heating and cooling business in first-round bids due next month, people familiar with the matter said.
A portfolio that includes the firm’s District Energy Networks business is expected to draw interest from bidders including Brookfield Asset Management Inc.’s Enwave Energy Corp., said the people, who asked not to be identified because the process is private. Veolia may also gauge interest from companies such as Engie SA, Algonquin Power & Utilities Corp. and Epcor Utilities Inc., two of the people said.
Veolia North America examining its heating and cooling networks as part of the group’s portfolio review, and Veolia’s strategic plan will be presented early next year, a spokeswoman for the French company said. Conclusions shouldn’t be drawn about its future, she said.