ASSYSTEM: Assystem acquires a 99% stake in the Indian engineering company, STUP Consultants Private Limited (“STUP”)
July 01 2021 - 2:30AM
ASSYSTEM: Assystem acquires a 99% stake in the Indian engineering
company, STUP Consultants Private Limited (“STUP”)
Assystem
acquires a 99% stake in
the Indian engineering company,
STUP Consultants Private Limited
(“STUP”)
Paris-La Défense, 1 July 2021, 8.30
a.m. (CEST) – On 30 June 2021, Assystem S.A. (ISIN:
FR0000074148 – ASY), a leading player in engineering, acquired 99%
of the issued share capital of STUP*, in a transaction that was
originally scheduled to close at the end of May 2021.
As stated in the press release dated 8 March
2021 announcing the acquisition agreement signed between Assystem
and STUP’s shareholders, STUP generates some €20 million in annual
revenue and employs 1,100 people across India. It is one of India’s
leading players in transportation infrastructure engineering
(motorways, railway infrastructure, metropolitan networks and
airport terminals).
The price for the 99% stake is between €21 and
€22 million, takes into account cash net of debt estimated to be
some €1 million, and is subject to typical net cash/debt and
working capital adjustments.
Assystem’s objectives in acquiring STUP are
three-fold:
- Draw on STUP’s human resources and
networks so as to capitalise on the robust growth in the
infrastructure engineering market in India.
- Have an existing and solid base in
India to be able to offer our globally recognised nuclear
engineering services to the various players involved in the nuclear
power plant construction program launched by the Indian
government.
- Further strengthen our skills and
expertise in non-nuclear infrastructure engineering by leveraging
the capabilities of STUP’s teams, to help drive our international
development.
About
AssystemAssystem is an
international engineering group. As a key participant in the
industry for over 50 years, the Group supports its clients in
managing their capital expenditure throughout their asset life
cycles. Assystem S.A. is listed on Euronext Paris. For more
information please visit www.assystem.com / Follow Assystem on
Twitter: @Assystem
* KPMG India acted as exclusive financial
advisor to STUP for this transaction.
CONTACTS
Philippe Chevallier CFO & Deputy CEOTel.: +33
(0)1 41 25 28 07Anne-Charlotte
DagornCommunications
Directoracdagorn@assystem.comTel. : +33(0)6 83 03 70 29 |
Agnès VilleretInvestor relations -
Komodoagnes.villeret@agence-komodo.comTel.: +33 (0)6 83 28 04
15 |
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