LONDON (ShareCast) - US banking giant Goldman Sachs is working on a possible offer for the British water, waste and energy business held by Veolia Environnement, Financial Times reported last night.

The French utilities company provides services to London and south-east England through Veolia Water. The deal is estimated to be worth around £1.2bn.

However, Goldman Sach's infrastructure investment arm is not the only entity interested in the division. It is expected to draw interest from infrastructure funds such as Borealis and Japanese trading houses such as Marubeni, the paper said.

The sale, which was proposed by Veolia last year as part of its €5bn asset disposal programme, is still at an early stage.

Shares of Veolia were up 1.68% at €12.12 in mid-morning trade in Paris.

SC/BC

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