On 6 August 2015, Veolia (the major, French, environmental and transport services multi-national) withdrew from financing, operating and maintaining the Jerusalem Light Rail. Officially, the decision was the result of a strategic re-focus. Company insiders, journalists, and activists alike, however, argue that the divestment was the result of pressure from the Boycott, Divestment, Sanctions (BDS) movement for Palestinian rights. The BDS movement claimed that Veolia was aiding and abetting illegal Israeli occupation and settlement activity, and was thus a fit target for boycott. High profile campaigns pressured the company by causing it to lose contracts or be excluded from tender in a number of municipalities. This paper involves an in-depth case study of this important episode of transnational contention, aiming to develop the use of an innovative methodology – dynamic interaction analysis. The latter draws on event-structure analysis (Heise 1989), eventful sociology (Sewell 1996), relational contentious politics (McAdam et al 2001), and strategic interaction perspectives (Duyvendak and Filleule 2015). The building blocks are (1) interactions between actors (economic, governmental, transnational-activist, domestic-political, and inter-governmental) (2) actor-dynamism (their re-constitution over time); (3) time-sequencing (causes must be anterior to effects); (4) interpretation (that actors interpret their situation and act on these interpretations); (5) actor-constitution (actors strive to be constituted, cohesive and integral – and recognized as such – in their efforts to bring about or resist change) and (6) fatefulness (decisions taken amid interaction generate path-dependencies – they deplete or change objects, reinforce instruments, have beneficiaries and bring about products that constrain future action). The episode of contention, beginning with the first challenges to Veolia’s involvement in 2005-6, is reconstructed with these building blocks using desktop and interview-based research and multi-sited fieldwork. The aim is to shed light on the causal mechanisms at work: how did actions by the BDS movement translate into pressures on Veolia? What activist strategies were viable and effective? How were actors reconstituted over time? The case-study aims to shed light on the possibilities and limits of the BDS movement, to offer tools for studying transnational activism, and to address debates about strategic interaction perspectives on protest.