SG Corporate and Investment Banking has helped close the final chapter in Vivendi's relationship with Veolia Environnement, a water utility business, as the French music group sells its remaining stake for €864m ($1.1bn).

SG CIB is acting as sole bookrunner on the placement of 21.5 million shares in Veolia, or 5.3% of the company. The deal, structured as an accelerated bookbuild, is ongoing and shares are priced at €40 to €40.20. Veolia fell on opening €0.63 to €40 this morning.