Power group Electricite de France SA (EDF.FR) and French waste and water utility Veolia Environnement SA (VE) have struck a deal over the ownership of their energy-generation joint venture Dalkia, putting an end to a nearly two-year-old dispute, French daily Le Figaro reports Monday, citing people familiar with the deal.
EDF will take over the French activities of Dalkia, while Veolia will take over the venture's international business, Le Figaro reports, adding Veolia will pay 550 million euros ($759 million) to EDF as part of the deal.
The boards of both groups are due to meet on the issue Monday, the newspaper adds.
Dalkia, which specializes in local energy generation and distribution, notably for municipal services such as hospitals, was created by the two companies in 1998. At the time, Veolia owned 66% of Dalkia International and Dalkia France was owned equally by EDF and Veolia.
Since then, Veolia has sought to lower its exposure to the French market because of the economic crisis there, while EDF has sought to strengthen its control over the French venture.
Nobody at Veolia was immediately available to comment while a spokeswoman for EDF declined to comment.
Newspaper Web site: http://www.lefigaro.fr
Write to Geraldine Amiel at firstname.lastname@example.org
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 28, 2013 03:37 ET (07:37 GMT)Copyright (c) 2013 Dow Jones & Company, Inc.
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