Regions

EDF nears Citelum acquisition amidst ownership dispute of its owner

Close
October 1
11:58 AM 2013

Europe's largest power generator Electricite de France (EDF) said it was talking exclusively with Dalkia France for the acquisition of Citelum. The development came despite an ownership dispute between two utility firms over the local French operations of Dalkia. An urban lighting firm, Citelum is in the business of operating traffic lights, surveillance cameras and lighting monuments like the Eiffel Tower. Financial details of the transaction were not disclosed. In a statement, EDF said the purchase would enable them improve the services they offer to local authorities.

Dalkia has become the subject of a control dispute by EDF and Veolia Environnement, the biggest water utility in Europe. Although the international division is owned equally by both companies, EDF only owns 34% of the firm's French operations. Veolia holds the rest. However, EDF filed a case against the water utility last year saying that they had a deal in 2000 which provided for equal control of Dalkia France. 

Citelum was created by EDF in 1993 and is now owned by Dalkia, an energy services provider. Citelum posted sales of EUR 343 million or USD 465 million last year. Four years ago, EDF generated only EUR 221 million in sales.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics