Transdev and Veolia situation

[Xenophon PCDGS]

Is there any current news with regard to the situation of Transdev (especially the Lancashire operation) in the Veolia affair?

 

[34D]

Is there any current news with regard to the situation of Transdev (especially the Lancashire operation) in the Veolia affair?

Which particular veolia affair do you refer to?

 

[Xenophon PCDGS]

Which particular veolia affair do you refer to?

As I was led to believe, despite a merger situation last year, Veolia were disposing of certain UK-based assets. If I have been mis-informed, please let me know the projected future of the Transdev operations in Lancashire.

 

[WatcherZero]

Demerger hasnt gone through yet but the leading contender is Cube Infrastructure owned by the french bank Natixis acquiring half with the other half acquired by The Caisse des Dépôts (the French sovereign wealth fund).

 

[34D]

As I was led to believe, despite a merger situation last year, Veolia were disposing of certain UK-based assets. If I have been mis-informed, please let me know the projected future of the Transdev operations in Lancashire.

Yes. It will probably help to think of the previous Veolia transport as one incarnation, and the Veolia Transdev as another.

Virtually all of the former has been discontinued/sold (with the rump being sold back to one of the chaps connected with Astons coaches, and renamed Astons) and veolia appear to be a silent partner in the UK business known as Veolia transdev. What will happen to this next is anyones guess!!

 

[Xenophon PCDGS]

Yes. It will probably help to think of the previous Veolia transport as one incarnation, and the Veolia Transdev as another.

Virtually all of the former has been discontinued/sold (with the rump being sold back to one of the chaps connected with Astons coaches, and renamed Astons) and veolia appear to be a silent partner in the UK business known as Veolia transdev. What will happen to this next is anyones guess!!

I am most grateful to you for this answer and the information given.

 

[mbonwick]

Further, this from the Transdev-Veolia wiki page;

On December 6, 2011 Veolia Environment, seeking to reduce debt and focus on its core businesses of water, waste and energy, announced a €5bn divestment program over 2012-2013 that would include a sale of its share in Veolia Transdev within about two years.[4]
At the time of the announcement, Veolia Transdev declared its intention to concentrate on four main markets (France, the Netherlands, Germany, USA), to develop UK, Asia and Australia and to divest from other countries and other activities amounting to about 9-10% of global revenue in 2012-2013.
After this announcement, the Caisse des Dépôts et Consignations, for its part, officially reiterated its commitment to Veolia Transdev and its continued support as a shareholder to the group's development.[5]
In early 2012 it was reported that Cube Infrastructure, a fund controlled by the French bank Natixis (Groupe BPCE), was likely to acquire about half of Veolia's stake in Transdev. The Caisse des Dépôts would take over the other half.[6]"

Further still, I'm sure I read somewhere last week that Cube (? - could have been someone else) had been blocked from buying a further share or vetoed the sale of the remaining share.