ENGIE announced to enter into exclusive negotiations with the Bouygues BTP group for the sale of its entity that includes the technical service activities, valued 7.1 billion euros.
Le Monde with AFP
Of the last three candidates still in the running, Bouygues wins. The BTP Group was chosen to enter the exclusive negotiations with ENGIE regarding the purchase of Equans, the entity of technical services (INEO, AXIMA …) of the energy giant.
In addition to Bouygues, the Eiffage BTP group had filed an engaging offer. The American Fund Capital Bath, Allied to French Financière Marc Ladreit de Lacharrière, founder of the diversified Holding Fimalac, had also made an offer.
ENGIE was a sale price of more than 6 billion euros, he obtained € 7.1 billion. “Bouygues’ offer was the best-point with all the criteria selected by ENGIE, including financially,” justified Engie in a statement published on the night from Friday 5 to Saturday, November 6th. “It values 100% Equans at 7.1 billion euros in business value and reduces ENGIE’s economic debt by € 7 billion,” says
Sweep the suspicions
Entity created for splitting energy giant technical services, Equans includes air conditioning, heating and ventilation, electricity, digital, mechanical, general services, etc. It generates an annual turnover of more than 12 billion euros and employs more than 74,000 people around the world, including 27,000 in France.
“Bouygues is committed to implementing any departure plan forced in France and Europe for a period of 5 years from the completion of the transaction, and the net creation of 10,000 jobs on 5 years, “adds the energetician to sweep any suspicions.
In private, some feared that the State, the first shareholder of ENGIE with 23.6% of the capital, has obviously five months of the presidential election, a preference for Bouygues, owner of TF1. Since October 4, and the announcement of the non-renewal of the President of the Competition Authority, Isabelle de Silva, the business community interpret this decision as a resumption of the policy to facilitate the redemption of M6 by TF1.
The direction of Engie had explained that, to make its choice, it would take into account “the strength of the industrial project and the quality of the social project contained in these offers”, as well as “the proposed valuation”.
Finalization expected in the second half of 2022
“We are vigilant about employment, the stakes of sovereignty and the identity of future buyers,” said the entourage of the Minister of the Economy, Bruno the Mayor. Bercy also agrees on the merits with the ENGIE strategy to focus on renewable energies and networks.
The finalization of the assignment is expected in the second half of 2022, “once the information-consultation process of the representative bodies of ENGIE staff and subject to the obtaining of the authorizations of the regulatory authorities”, specified the Communiqué of Engie.
For Bouygues, this redemption project “is part of the strategic approach of the Group to bring out a major player in multitechnical services,” Wednesday explained the BTP group, after submitting an engaging offer. .
Since late August, Bouygues announced be interested in the acquisition of Equans. “Geographically, the markets Equans, Europe and USA, are where we want to develop,” had then argued Roussat Olivier, CEO of the group.