Cleary Gottlieb represented Veolia Environnement (Veolia) in connection with the sale of its remaining 30 percent stake in Transdev Group to German group Rethmann.
Following the sale of a 20 percent stake in the company to Caisse des Dépôts et Consignations in December 2016, Veolia and Caisse des Dépôts et Consignations jointly sought a new shareholder both interested in acquiring Veolia’s remaining 30 percent stake and to support Transdev Group’s future development. In this context, Rethmann made a binding offer on October 1, 2018, to acquire Veolia’s remaining 30 percent stake for €340 million.
This proposed transaction will be presented to the employee representative bodies of Transdev Group and submitted for approval to the relevant authorities.