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Veolia posts FY net loss, in Veolia-Transdev talks
March 1, 2012 / 6:16 AM / in 6 years

Veolia posts FY net loss, in Veolia-Transdev talks

PARIS, March 1 (Reuters) - Veolia Environnement swung to a net loss last year after writing down the holding it is seeking to sell in its public transport division and as the European debt crisis hit the heavily indebted restructuring French utility.

Veolia, whose chairman and chief executive, Antoine Frerot, is seen on his way out following a failed board coup, posted a net loss of 489.8 million euros ($655.21 million)last year compared with a 2010 net profit of 558.5 million.

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

Veolia took an impairment charge of 440 million euros tied to the stake. ($1 = 0.7476 euros) (Reporting by Caroline Jacobs; Editing by James Regan)

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