Veolia sells Transdev transport unit stake to Rethmann for 340 million euros

By Geert De Clercq, Reuters; Octobr 2, 2018

PARIS, Oct 2 (Reuters) – French utility Veolia has agreed to sell its 30 percent stake in transport company Transdev to Germany’s Rethmann Group for 340 million euros ($393 million), raising capital and allowing Veolia to focus more on its main businesses.

Veolia, whose main businesses are in the water and waste management sectors, said in a statement on Tuesday that the deal was expected to be closed by the end of 2018.

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