Veolia Environnement SA (VIE) has dropped plans to sell its 50 percent stake in transportation group Transdev after failing to find a buyer, the newspaper Journal du Dimanche said, without saying where it got the information.
Cube, an investment fund belonging to French bank Natixis (KN), might still buy part of Veolia’s stake, the newspaper said. Cube had offered to buy Transdev but wanted to sell off its holdings outside France, an idea that was vetoed by state-owned bank Caisse des Depots et Consignations, which owns the other 50 percent of the mass-transit unit, according to Journal du Dimanche.
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