EDF, Veolia Complete Agreement on Dividing Dalkia Operations

Electricite de France SA, the world’s biggest operator of nuclear reactors, and Veolia Environnement SA (VIE) said they reached a final agreement to split the operations of their Dalkia energy-services venture.

EDF will acquire Dalkia’s activities in France, while Veolia, Europe’s largest water utility, will acquire its international operations, the Paris-based companies said today in a statement.

EDF and Veolia said the final agreement is “in line with” their statement of Oct. 28, when they said they were in advanced talks and that Veolia would pay EDF 550 million euros ($760 million) as part of a split. Today’s statement didn’t specifically refer to the cash payment.

Veolia owns 66 percent of Dalkia, and EDF owns 34 percent. The venture had 8.38 billion euros in revenue last year, according to its website.

To contact the reporter on this story: Jim Silver in New York at jsilver@bloomberg.net

To contact the editors responsible for this story: Andrea Snyder at asnyder5@bloomberg.net John Simpson

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