The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

SPIE's Share Scheme Sinks - No Interest in Offer

09 October 2014 | Updated 01 January 1970
 

The international engineering, FM and energy company SPIE, with its headquarters in Paris, has embarrassingly had to drop its plans to raise money via the French stock exchange, citing  'volatile market conditions' - a euphemism for a lack of interest in the shares on offer.

Employees in the UK, France, Holland, Portugal and others all received an email this morning and another this afternoon from head honcho Gauthier Louette (pictured) stating that those who thought they would be share-holders today would be refunded their subscriptions (up to 2,000 matched by the firm though there was no restriction) over the coming days.

This would have been France's biggest listing post-recession, worth about 1.2 billion. Although the slow rate of recovery in Europe and America (the UK is surging ahead) is also causing other share offers to be rejected. In France.

SPIE is owned by Canadian investment fund Caisse de depot et placement du Quebec and the private equity firm Ardian and Clayton Dubilier & Rice. SPIE boasts clients in the UK such as JP Morgan, The Tate and Tate Modern, Imperial College and in France EDF and Airbus. The company recently moved into the security market with the purchase of Scotland' Scotshield.

Gauthier Louette was bold in his email to employees stating that the company would attempt a share issue again once the market had stabilised.

Article written by Brian Shillibeer | Published 09 October 2014

Share



Related Articles

Getting Sporty - Sodexo In Major Transfer Deal

Sodexo and Olympus Partners has announced (Nov 15) that Sodexo has signed an agreement to acquire Centerplate, Inc. a provider of food and beverage, merchandise and...

 Read Full Article
FM - Here Is THE News

BBC - Here is the News The Beeb will continue receiving its FM from Interserve in a £140 million contract running until 2023. This latest four-year extension to...

 Read Full Article
Squaring It With Qube

MRI Software has acquired Qube Global Software, a UK based provider of property and facilities management Solutions. The acquisition, according to MRI, extends the...

 Read Full Article
Ground Control to Major Deal

Ground Control has strengthened its winter maintenance capabilities through the acquisition of Litter Boss, claiming the acquisition of increases nationwide economies of...

 Read Full Article
Bidvest Group Acquires Noonan

The Bidvest Group has completed an agreement with the majority shareholder in Noonan, Alchemy Partners LLP, which will see Bidvest acquire the entire shareholding in...

 Read Full Article
Taking Controls

Johnson Controls and Tyco have finally completed their merger to create what  many would argue is the world's largest building controls developer, manufacturer...

 Read Full Article
Global Workplace Solutions - Old Name Becomes New Name

CBRE's acquisition of Johnson’s Controls’ Global Workplace Solutions has been confirmed (Tues Sept 1) at a cost of about $1.475 billion. GWS had revenue...

 Read Full Article
Imtech Survives on Endless Credit

Imtech UK has announced (Tues 01 Sept) that it has concluded a deal to refinance its business through an investment from private equity firm Endless LLP. The...

 Read Full Article
ISS Buys GSH - The Interview

In mid-January, ISS UK Limited, a global provider of facility services, acquired the UK & European operations of engineering firm GSH Group Plc (£72m in the...

 Read Full Article
Noonan Resources Up

Noonan, the largest outsourced FM provider in the Republic of Ireland has almost doubled in size through its acquisition of the business and operations of the Resource...

 Read Full Article