EDF, Veolia to finalise deal on Dalkia venture - Agefi
PARIS (Reuters) - French power group EDF and water and waste group Veolia Environnement are poised to finalise a deal on the asset sharing of their Dalkia energy services venture, French investment newsletter Agefi said on Sunday.
Citing sources, Agefi said Veolia would keep Dalkia's foreign affiliates, while EDF would take over the French division.
"With the international branch, Veolia would support its development abroad, notably in central Europe, while EDF would reinforce its presence in France, its premier market. The plan also carries the advantage of not requiring significant cash outflow," wrote Agefi.
Veolia - formerly run by EDF CEO Henri Proglio - currently holds 66 percent of Dalkia Holding, and EDF the remainder. Veolia also holds 100 percent of Dalkia France and 76 percent of Dalkia International.
Le Figaro daily said the deal would involve Veolia paying EDF 550 million euros ($759 million).
In February, Veolia and EDF announced they had reached an agreement on the financing of Dalkia in which Dalkia would issue 600 million euros in super-subordinated bonds, to which both shareholders would subscribe in proportion to their stakes.
EDF said it would make no comment. Veolia could not be immediately reached for comment. ($1 = 0.7250 euros)
(Reporting by Alexandria Sage; Editing by Alison Williams)
