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Vivendi unit raises $1bn from asset sales

The US arm of Vivendi Environnement, the water subsidiary of embattled media giant Vivendi Universal, will have raised more than $1bn (€1bn) from the disposal of non-core assets after selling its waterworks distribution business.

United States Filter Corporation (USFilter), Vivendi's California-based water business, agreed to sell the unit to private equity firms JP Morgan Partners and Thomas H. Lee Partners for $620m.

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