Merger of Veolia Transport and Transdev complete

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Veolia Transport have released a statement confirming the successful completion of their merger with Transdev, creating Veolia Transdev:

‘After consultation with the employee representative bodies of Veolia Transport and Transdev and approval by decree of the French Commission on State Shareholdings and Transfers, Veolia Environnement and the Caisse des Dépôts announce the creation of Veolia Transdev, the result of the combination of their respective subsidiaries, Veolia Transport and Transdev.

The company will be the world’s private-sector leader in sustainable mobility with more than 110, 000 employees in 28 countries.

Following completion of the transactions set out in the agreements signed in May 2010, Veolia Transdev is owned jointly by Veolia Environnement and the Caisse des Dépôts.

Now that the adaptation of the shareholder’s agreement, announced on February 7, has been approved by the relevant governing bodies, after consultation of the employee representative bodies, Veolia Transdev will have a single Chief Executive, Jérôme Gallot, with full operational responsibilities. The senior management team will implement the operational, geographic and modal synergies that have been identified and foster the rapid emergence of a common corporate culture focused on efficiency, business development, close ties with local communities and service quality.

In a global passenger transportation market driven by increasing urbanization, sustainable regional development and market liberalization, Veolia Transdev is uniquely positioned as the most multimodal and international operator in its industry.

The two shareholders reassert their ambition to seek a stock market listing for the new company when market conditions permit.’

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