2 February 2010 - Covanta Holding Corporation (CVA) said it completed its acquisition of Veolia's North American Energy-from-Waste (EfW) business, a 3,000 ton per day operating contract in Miami-Dade County, FL.
The businesses acquired from Veolia consist of the operating contracts associated with six EfW businesses, ownership and operation of a seventh EfW facility located in Montgomery County, PA and one transfer station, also located in Pennsylvania. Each of the businesses acquired includes a long-term operating contract with the respective municipal client. The aggregate purchase price for the businesses acquired was $450M and the acquisition is expected to contribute approximately $60M of operating cash flow during 2010. Covanta's portfolio now includes operation of 45 EfW facilities that annually convert approximately 20 million tons of municipal solid waste annually into renewable energy.