Veolia in €340 Million Sale of Remaining 30 Percent Stake in Transdev Group
October 12, 2018
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.