King & Wood Mallesons SJ Berwin advised Veolia on the signing of an agreement for the sale of its activities in Israel to investment funds managed by Oaktree Capital Management.

Veolia designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. The company has been established in Israel for over 20 years and the sale reflects its strategy to concentrate on geographies where it can pursue less capital intensive opportunities.

The closing of this operation, expected by the end of 2014, is subject to the approval of the Israeli Antitrust Authority and change of control authorisations common in such transactions.

The Corporate team of King & Wood Mallesons SJ Berwin was composed of partner Jérôme Jouhanneaud and counsel Isabelle Meyrier, supported by the S. Horowitz & Co. firm in Israel (with partner Clifford Davis and senior associate Keith Shaw).