Veolia Transport Transdev Project
Veolia Transport Transdev Project
With some projects requiring the intervention of several Veolia sectors, Veolia Environnement and the Caisse des Dépôts proposed the adaptaion of the future company’s shareholder pact, especially with Veolia entering the list of companies in the NYSE, allowing everyone to purchase equity shares and stocks in the multinational firm.
As part of the procedure of putting into practice the agreement signed on May 2010 and that provides for the tie-up between the different Veolia subsidiaries, Veolia Transport and Transdev, Veolia Environnement and Caisse des Dépôts, the plan to adapt the terms of their shareholder pact was urged to get undergoing but through preserving the provisions linking to the authority of the future Veolia Transdev.
Shareholders intention was to implement the operational, geographic and modal synergies identified by the Veolia studies, as soon as the deal got signed; furthermore, the shareholders were urged to promote the rapid expansion and emergence of a universal corporate culture that is totally focused on efficiency, service quality and development.
Veolia Environnement and the Caisse des Dépôts are expected to propose to the governance bodies of their respective subsidiaries in every country and eventually, to the Boards of Directors of Veolia Environnement and of Veolia Transdev, as a way to establish a unified Chief Executive position with complete operational responsibility for the new expanding company and to the image of Mr. Jérôme Gallot, CEO of Veolia.
Veolia Environnement and Caisse des Dépôts later on expressed their gratitude to Joël Lebreton and Cyrille Du Peloux in return of their contribution to the merging process that enabled the emergence of Veolia as the leader in sustainable mobility.
The 2 major shareholders reaffirmed their ambitions of increasing the firms’s success and in hovering the new company on the stock market as soon as the conditions allow it. The set plan of adaptation of the shareholder pact is expected to be activated within the process of talks with the representatives of the 2 companies before being granted the approval by the governing bodies.
Merger between Veolia Transport and Transdev is also to be approved by decree consequent to receiving the approval of the “French Commission on State Shareholdings and Transfers”.
On the personal profile side of the story, Jerome Gallot (51 years old) has been Chairman of CDC Entreprises since 2006 and is currently a member of the Executive Committee of the Strategic Investment Fund (Fonds Stratégique d’Investissement) which mission is to provide equity financing for firms with a potential to boost the growth and competitiveness of the French economy.
Mr Gallot was previously in charge on leading pensions between 2003 and 2006 at the Caisse des Depots, and operated as the general director of Competition Policy, Consumer Affairs and of Fraud Control within the French Ministry of the Economy and Finance between 1997 and 2003.
