March 1, 2012 / 6:56 AM / 6 years ago

Veolia to sell most of transport stake in 2012

PARIS, March 1 (Reuters) - Veolia Environnement expects to have mostly sold its stake in transport joint venture Veolia Transdev this year, the head of the restructuring French utility said on Thursday.

Veolia said it was in exclusive negotiations with an undisclosed investor to sell its 50 percent stake in Veolia Transdev, which it owns with French state investment bank CDC.

“The discussions, in agreement with the CDC, should soon allow us, I hope, to meet our commitment to pull out of our public transport activity,” Chief Executive Antoine Frerot told a conference call with journalists to discuss the group’s 2011 earnings.

Though too early to give a detailed calendar, Frerot added he was “very confident” the group could realise a “good part” of the sale.

Frerot declined to answer questions about his position in the group after he survived a failed board coup. (Reporting by Caroline Jacobs; Editing by James Regan)

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