Veolia says CDC will raise Transdev stake to 60 pct

PARIS Tue Oct 23, 2012 2:25am EDT

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PARIS Oct 23 (Reuters) - Veolia Environnement and its partner Caisse des Depots et Consignations said on Tuesday the French state-owned bank would take control of their transport joint venture Transdev by raising its stake to 60 percent.

Veolia will keep a 40 percent stake in Transdev.

As part of the deal, the two companies will subscribe to a 800 million-euro ($1.1 billion) capital increase through the conversion of shareholder loans. ($1 = 0.7651 euros) (Reporting by Elena Berton)

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