Rethmann Group has announced that intends to acquire from Veolia its 30% stake in Transdev Group’s (Transdev) capital for EUR 340 million. With Caisse des Dépôts Group it was concluded a partnership agreement sealing their shared strategic vision for the development of Transdev, and, at the same time, Rethmann Group would contribute to Transdev its passenger public transport activities in Germany.
The Rethmann Group would hold 34% of Transdev’s capital, upon completion of these two transactions, which will be subject to obtaining the applicable regulatory approvals.
Under the transaction, Caisse des Dépôts Group would have 66% of Transdev’s capital and Rethmann Group, 34%, and would be investing in Transdev with a long-term perspective and – upon completion of these two operations-would hold 34% of Transdev’s capital.
Rethmann Group is a service and utility company working closely with local communities (water and recycling), present in logistics and public transport. This operation would include the contribution to Transdev of its subsidiary Rhenus Veniro, Rethmann’s passenger public transport activities in Germany as well as its technologies and its know-how.
Through its subsidiary Rhenus Veniro, Rethmann is active in public transport, offering bus and rail services. On rail transport, the company operates three regional train lines and in addition Rhenus Veniro operates public transport
services in the city of Zwickau, in Saxony. In total, this activity encompasses more than 2,200 employees, 1,617 buses, 32 tramways, eight regional trains, covering 65 million km and carrying over 100 million passengers per year.
The contribution of these activities s to Transdev would locally reinforce
Transdev’s leading position in Germany, where it is already the first private
regional rail operator, without impacting Transdev’s debt.
“The presence of Rethmann Group in the capital of Transdev, alongside majority shareholder Caisse des Dépôts Group, will allow us to accelerate our development. Our shareholders support our vision of a mobility which is ever more human, inclusive, innovative and sustainable. They will actively support our ambition as a global integrator of all mobilities. From now on, with Rethmann Group, we will continue to accelerate on this trajectory,” Thierry Mallet, CEO of Transdev Group said.