Fonds Partenaires - November 2007

On 19 November, Veolia Environmental Services, the world leader in environmental services, announced the signature of an agreement to acquire Bartin Recycling Group, the French number 3 in the recovery and recycling of ferrous and non-ferrous metals. The acquisition is in line with Veolia Environmental Services' strategy of "turning waste into a resource" and of continuing to develop its waste management business in the recycling segment.

Bartin Recycling Group specialises in the collection and recycling of industrial waste, in particular ferrous and non-ferrous metals. It generated revenue of £249m in 2006 and recycles 780,000 metric tons of metals per year. The company is a long-standing, well-known player in the management of industrial waste metals with strong positions in Central and Northern France and the Greater Paris region.

Canaccord Genuity acted as sale advisor for the minority shareholders, led by LFPI (La FinanciŠre Patrimoniale d'Investissement) and FPG (Fonds Partenaires Gestion), representing c. 37% of the share capital. Our role has been to advise, as each relates to our clients, on the overall conduct of the process, the discussions engaged with Veolia since January and the conditions proposed.