Dalkia is an important leader in delivering energy focused services with guaranteed results to clients in the UK. Overall the group's operations in the UK will generate approximately £150 million of revenue in 2009, net of the divested business. This is anticipated to grow significantly based on the current sales pipeline and increasing demand for renewable energy solutions.
News
08/12/2009.
Agreement Reached to sell Dalkia's FM business in the UK
Dalkia has announced today that it has entered into an agreement to sell its FM businesses in the UK (Dalkia Energy Technical Services Ltd and Dalkia Lighting and Electrical Ltd, formerly Parkersell Ltd), to MITIE PLC for a total consideration of £ 130 million, of which 10 million will be paid subject to the achievement of certain financial targets for financial year 2009. This enterprise value represents nearly 10 times 2008 EBITDA. The sale of Dalkia's FM businesses in the UK is part of the disposal program announced by Veolia Environnement (Dalkia's parent company) on March 6, 2009.
Olivier Barbaroux, Chairman of Dalkia
"Our commitment to build a sustainable business through innovative solutions that are an inspiration to the market in the UK remains unchanged. The FM businesses we have sold are strong and we are confident they will fit well within the scope of Mitie PLC's UK business. Dalkia has significant opportunities in the UK including its Bio Energy business which focuses on providing biomass fuelled energy plants delivering environmentally generated heating and electricity supplies into communities and the wider grid. Biomass in the form of wood pellets is a low cost, environmentally clean and easy to use source of energy that can replace heating fossil fuel such as coal, oil and gas."
Important Disclaimer
Veolia Environnement is a corporation listed on the NYSE and Euronext Paris. This press release contains "forward-looking statements" within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors and uncertainties in particular include risks related to customary provisions of divesture transactions and those described in the documents Veolia Environnement has filed with the U.S. Securities and Exchange Commission. Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Veolia Environnement with the U.S. Securities and Exchange Commission from Veolia Environnement.
Contact
Nick Burchett
44 (0)1784 496 311
nick.burchett@dalkia.co.uk