EDF and Veolia Environnement have finalised a deal to divide ownership of their joint energy services subsidiary.
An agreement between Veolia and EDF was completed on 26 March, following a consultation with Dalkia employees.
A statement from Veolia read: “This transaction will result in the acquisition by EDF of all of the Dalkia group’s activities in France, while Dalkia International’s activities will be taken over by Veolia Environnement.
“Completion of the transaction remains subject to the approval of the relevant competition authorities.”
Dalkia was 66% owned by Veolia Environnement and 34% by EDF. In 2012 the group reported revenues of €3.8bn (£3.2bn) in the France division and €3.7bn in the international division.
The deal for Dalkia was announced in October last year, with Veolia Environnement offering a cash payment of €550m to EDF to compensate for the difference in value between the stakes owned by the two companies.
- Veolia Environnement’s share price has hit a new 52-week high. On 26 March it reached a peak of £12.23. In July 2013 the price hit a low of £7.17.