Bouygues signs deal with Engie to buy Equans

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Bouygues has acquired the Equans Group, which will be combined with its Energy and Services (E&S) division

Bouygues and Engie have signed a purchase agreement according to which Bouygues has agreed to acquire all of the Equans group.

The proposed merger between Equans and the Bouygues group’s Energies & Services arm is a unique opportunity to create a French world leader in energy, digital and industrial transition.

Equans would then become the largest business segment within the Bouygues group by sales (around €16bn) and number of employees (around 96,000).

The proposed acquisition has been approved unanimously by the board of directors of Bouygues.

The acquisition of Equans forms part of Bouygues’ aim to expand in the energies & services market.

This new entity would have a broad geographical reach, extending to over 20 countries worldwide.

It will also enjoy a dense branch network in France and Switzerland.

‘A new global leader in multi-technical services’

Martin Bouygues, chairman of Bouygues, said: “The signing of a purchase agreement with Engie to acquire Equans is very good news! It paves the way for us to create a new global leader in multi-technical services, with strong roots in France.

“We will extend a warm welcome to the 74,000 Equans employees, who will be joining a group with a reputation for strong ethical values and high-quality labour relations.”

Olivier Roussat, CEO of Bouygues, added: “I am delighted that Engie has accepted our offer. The multi-technical services market is an up-and-coming one with strong growth potential, and will play a crucial role in the energy transition.

“The acquisition of Equans by Bouygues is a project that creates value for customers, for employees, and for shareholders. This activity will become a new standalone business segment within the Bouygues group, and will be the largest in terms of headcount and sales.

“This is the biggest acquisition Bouygues has ever made, and all our people will pull together to make it a success.”

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