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EDF in talks to buy lighting firm Citelum
October 1, 2013 / 7:22 AM / 4 years ago

EDF in talks to buy lighting firm Citelum

The logo of French utility Electricite de France (EDF), Europe's number one electricity producer and the world's biggest single producer of nuclear power, is seen on a building in the financial district of La Defense, near Paris August 1, 2013. REUTERS/Benoit Tessier

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

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