September 30, 2018 / 9:26 PM / a year ago

Veolia to sell stake in transport firm to Germany's Rethmann: newspaper

PARIS (Reuters) - French waste and water group Veolia (VIE.PA) has agreed to sell its 30 percent stake in transport firm Transdev to Germany’s Rethmann, Le Figaro newspaper reported.

The deal is due to be announced on Tuesday, the French daily said in its weekend edition, without indicating its sources.

Veolia could not be reached for comment, while family owned Rethmann’s transport division Rhenus said it had no immediate comment.

Veolia has been planning to exit Transdev, in which French public sector lender Caisse des Depots (CDC) controls the other 70 percent.

CDC had said in July it would decided by end-summer whether to buy Veolia’s 30 percent stake or reach a deal with a new investor.

Veolia has previously valued the 30 percent stake at more than 330 million euros ($383 million), Le Figaro said.

($1 = 0.8609 euros)

Reporting by Gus Trompiz; Editing by Meredith Mazzilli

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