Bouygues SA said it had reached an agreement to acquire the Equie unit of energy company Engie SA, in a move that would make the French group’s energy services unit the largest in terms of revenue.
Bouygues will acquire 100% of the technical service provider for 7.1 billion euros, merging it with the existing service and energy service, he stressed at the weekend.
The merged entity will employ 96,000 people – most of them from Equans – and will have combined sales of € 16 billion a year.
The acquisition will be the largest Bouygues has ever made, said CEO Olivier Roussat.
The synergies, largely from procurement, will be enhanced by an efficiency function within the merged entity, reaching 120-200m euros per year, based on a targeted operating margin of more than 5% in the medium term, the company said.
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Source From: Capital
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