Veolia sells Morocco water, waste services to Actis

Veolia Environnement has agreed to sell its Moroccan water, wastewater and electricity services operated by concession companies Redal and Amendis to investment fund Actis in a deal worth around 370 million euros ($484 million).

The transaction will reduce the company's debt by around 88 million euros in 2013, Veolia said in a statement on Friday. 

Veolia has signed a three-year technical support contract with Actis. This contract will ensure the smooth transition of services, enabling Veolia to share its know-how and expertise in Morocco. The choice of Actis promises to bring high added value for Morocco; Actis has over 60 years of experience of investing exclusively in emerging markets, and particularly across Africa.

Veolia added that it has signed a three-year technical support contract with Actis for the businesses. ($1 = 0.7644 euros) (Reporting by James Regan; Editing by Christian Plumb)