Veolia Environnement in €2.6 Billion Rights Offering

June 12, 2007

Cleary Gottlieb acted as issuer’s counsel to Veolia Environnement in its €2.6 billion rights offering of more than 51 million new shares. The offering includes a public offering in France and private placements internationally. The rights may also be exercised in the United States by qualified institutional buyers. The deal launched June 12 and is expected to close July 10.

Long-time client Veolia Environnement is the world leader in environmental services. It provides tailored solutions worldwide to meet the water, waste and energy management, and freight and passenger transportation needs of municipal and industrial customers.

The offering is intended to provide Veolia Environnement with financial flexibility to pursue growth, following targeted acquisitions totaling nearly €3.3 billion in Europe and the U.S. during this year.