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Bouygues has submitted a binding offer to acquire Engie's facilities management and technical services arm, Equans.
Reuters estimates the deal is worth 5-6 billion euros ($5.79-$6.95 billion).
Equans operates as an autonomous subsidiary of Engie, with 74,000 employees across 17 countries, managed by Jérôme Stubler and his management team.
The proposed acquisition of Equans forms part of Bouygues’ strategy to create a major player in multi-technical services within the Group.
An official press release stated:
“As stated on 7 September 2021, Bouygues would not require a capital increase to finance this transaction. The divestment process initiated by the seller is competitive and confidential. Bouygues will disclose more information to the market in due course if necessary.”
Picture: a photograph from inside one of Engie's research facilities
Article written by Ella Tansley | Published 04 November 2021
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