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Conglomerate Bouygues submits binding offer for Engie's Equans

Conglomerate Bouygues submits binding offer for Engie's Equans
Conglomerate Bouygues submits binding offer for Engie's Equans   -   Copyright  Thomson Reuters 2021
By Reuters

PARIS – French construction and telecoms group group Bouygues said it had made a binding offer to acquire Equans, the services unit of French power group Engie estimated to be worth 5-6 billion euros ($5.79-$6.95 billion).

“As stated on Sept. 7, 2021, Bouygues would not require a capital increase to finance this transaction,” added Bouygues, which also said it would disclose more information to the market in due course if necessary.

Apart from Bouygues, Eiffage and Bain Capital were still in the race to buy Equans after Spie and Carlyle withdrew.

Equans provides energy and facilities management services to client companies and employs around 40% of Engie’s total workforce worldwide.

The value of the deal is estimated at around 5 billion to 6 billion euros, sources close to the deal have said.

($1 = 0.8633 euros)