Vivendi continues disposal strategy

Axa Private Equity is set to become the latest private equity firm to take advantage of Vivendi disposal programme with the acquisition of Bonna Sabla.

Axa Private Equity has confirmed that it is in exclusive talks with Vivendi Environnement regarding the acquisition of Bonna Sabla, the French manufacturer of concrete products for manufacturing and industry.

The firm, a subsidiary of Vivendi Water, has operations in the UK, Spain, Tunisia and Egypt and reported revenues for 2001 of E405m. It also holds around 30 per cent of the French market.

The disposal forms part of Vivendi Water’s strategy to withdraw from the construction sector to focus on its water-distribution activities. Vivendi Water will retain 20 per cent of the firm's capital via the French water company Compagnie Générale des Eaux.