PARIS Feb 6 French water and waste company
Veolia Environnement has no plans to sell its Sade
water networks engineering unit "for now" but is studying
whether it makes sense to keep it within the group, Chief
Executive Antoine Frerot said.
Sade, which builds and maintains drinking water and waste
water networks and related installations, has 9,000 staff in
Europe and annual revenue of 1.4 billion euros ($1.9 billion).
French media reported last year that Veolia planned a sale.
"The synergies between Veolia and Sade have significantly
reduced", Frerot said at a meeting with analysts and media on
"We are currently assessing whether it is now better for
Sade to remain part of Veolia or if it's the opposite, but no
decision has been taken," the CEO said.
Veolia, the world's largest private supplier of drinking
water, has been hit by Europe's weak economy and cash-strapped
local governments in France, and is cutting costs and
restructuring as it unwinds a decade of geographic expansion and
($1 = 0.7390 euros)
(Reporting by Geert De Clercq and Benjamin Mallet; Writing by
James Regan; Editing by Andrew Callus)