EDF in talks to buy lighting firm Citelum
PARIS (Reuters) - Power group EDF (EDF.PA) said on Tuesday it was in exclusive talks with energy services group Dalkia France to buy public lighting and traffic management company.
Citelum, which made 74 percent of its turnover abroad in 2012, manages more than 2.3 million lighting points, EDF said in a statement confirming an earlier press report.
EDF founded Citelum in 1993 and handed it over to Dalkia in 2000 when it set up the energy services joint venture with water and waste group Veolia (VIE.PA).
Dalkia is 66 percent-owned by Veolia and 34 percent by EDF. Last year, EDF sued Veolia for the right to increase its stake in Dalkia to 50 percent.
Citelum has some 3,500 employees, with more than 500 in France. It posted revenue of 343 million euros ($465 million) in 2012, according to its website.
EDF said the acquisition would help it enhance the services it offers to local authorities when it comes to public lighting.
It said Dalkia France would now start consultations with employees' representative bodies, a precondition to any definitive agreement. ($1 = 0.7387 euros)
(Reporting by Dominique Vidalon and Natalie Huet; Editing by Louise Heavens)
WASHINGTON - The Federal Reserve on Wednesday embarked on the risky task of winding down the era of easy money, saying the U.S. economy was finally strong enough for it to start scaling down its massive bond-buying stimulus. | Video
WASHINGTON - Start-up companies will be able to raise much more capital through certain public stock deals without facing costly regulatory burdens under a proposal announced by U.S. securities regulators on Wednesday.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.