Covanta Closes Round Of Veolia Unit Acquistion

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August 25, 2009 (FinancialWire) -- Covanta Holding Corp. (NYSE: CVA) said it has completed the first stage in its acquisition of Veolia's North American energy-from-waste business.

The businesses being acquired in the first stage of the acquisition consist of six EfW businesses and one transfer station business. Each of the businesses acquired includes a long-term operating contract with the respective municipal client, according to Covanta.

Covanta also acquired a majority ownership stake in a Montgomery facility. The acquired businesses are added to Covanta's portfolio, which now includes operation of 44 EfW facilities that process around 19 million tons of municipal solid waste annually.

The company said it expects to complete the transaction in its entirety by year's end with the purchase of the operating contract relating to a 3,000 TPD EfW facility in Miami-Dade, Florida.

Fairfield, New Jersey-based Covanta Holding is an owner and operator of large-scale energy-from-waste and renewable energy projects.

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