In July 2014, Veolia signed an agreement to sell its water, waste and energy activities in Israel to the US-based investment management firm Oaktree Capital Management. The deal was completed on 1 April 2015. Consequently, Veolia no longer has any holdings in the Tovlan landfill and the Ayalon wastewater treatment facility. However, Veolia continues to be involved in the Jerusalem Light Rail project.
Veolia Environnement sells Tovlan landfill and Ayalon wastewater treatment facility
The Who Profits research team checked the veracity of Veolia's recent announcement and can confirm that according to the Israeli Registrar of Companies, Veolia Environmental Services Israel and its subsidiaries - Veolia Water Services Israel and SARP Industrial Wastes Israel - are indeed no longer owned by Veolia Environnement. Oaktree Capital's representatives and subsidiaries are now listed as the directors of these companies.
The USD 341 million sale, partly funded by Bank Hapoalim, included Veolia's activities in the Tovlan landfill in the occupied Jordan Valley and in the Ayalon wastewater treatment facility.
Through its former subsidiary, Veolia Environmental Services Israel, Veolia Environnement owned and operated the Tovlan landfill in the occupied Jordan Valley. The waste transferred to this landfill originates from recycling factories within Israel and from settlements in the West Bank. Hence, the company exploited the natural resources of the occupied territory for the needs of Israeli citizens from both sides of the Green Line. The Tovlan landfill was operated by the subsidiaries of Veolia Environmental Services Israel: TMM Integrated Recycling Industries and Y.R.A.V Sherutei Noy.
In addition, Veolia Water Services (VW) Israel operated the Ayalon wastewater treatment facility, which treats sewage from the illegal West Bank settlement of Modi'in Illit.
Business as usual for Veolia in the Jerusalem Light Rail
Veolia Environnement continues to hold shares in the controversial Jerusalem Light Rail project. According to the Israeli Registrar of Companies, there have been no changes in Veolia's shares in Connex Jerusalem and CityPass.
Through its subsidiary, Transdev, Veolia Environnement continues to hold a 5% share in CityPass, which established and operates the light rail, as well as 100% of Connex Jerusalem, which operates the trains. For more information on the Jerusalem Light Rail and its involvement in the occupation, read a recent update published by Who Profits.