Transdev sells its subsidiary in Belgium (VTB)


As part of its recovery and debt reduction plan, Transdev has finalized the sale of its Belgian subsidiary to a consortium consisting of Cube Infrastructure and Gimv. Veolia Transport Belgium (VTB) is the largest independent bus operator in Flanders and provides transportation services primarily to regional public transportation authorities.

VTB operates urban and intercity services managed by public transportation authorities as well as school transportation, staff transportation and bus services. In 2012, the Belgian company generated revenues of € 94 million, employed 1,100 staff and operated a 680-vehicle fleet.

The transaction is part of the strategic plan that Transdev has been implementing since March 2013, covering its business, finances and organization, including a refocusing of activities in 17 key countries. The sale of VTB marks another step in Transdev’s refocusing and debt reduction plan following the sale of its activities in Central and Eastern Europe.

This divestiture contributes to the company's recovery and its debt reduction. I am certain that the new shareholders will bring new means for VTB's continued development.

Jean-Marc Janaillac., Transdev CEO

About Transdev

A subsidiary of Caisse des Dépôts and Veolia Environnement, Transdev is one of the world’s leading public transportation companies.

Transdev advises and assists local authorities, from pre-project to daily operations of public transit systems to project management. With 94,000 employees in 20 countries, the company operates 48,000 vehicles and 23 light rail networks. Transdev generated revenues of 7.9 billion euros in 2012.

About Gimv

Gimv is a European investment company with over three decades of experience in private equity and venture capital.

The company is listed on NYSE Euronext Brussels and currently manages around 1.8 billion euros (including third party funds). The 75 companies in Gimv’s portfolio have combined sales of more than 6 billion euros and employ more than 26,000 people.

About Cube Infrastructure Fund

Cube Infrastructure Fund (“Cube”) is an investment fund specializing in long-term public services and infrastructure in Europe, with nearly € 1.2 billion in commitments. Cube invests primarily in utilities and infrastructure (transport, energy, power generation and telecommunications) already well established in the European Union.

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