Spie Submits Offer for Engie's Technical Services Provider Equans
September 06 2021 - 5:32AM
Dow Jones News
By Giulia Petroni
Spie SA said Monday that it is submitting a non-binding offer to
acquire Engie SA's newly created technical-services provider
Equans.
The French engineering company said the acquisition would be
funded through a combination of debt and equity. Investment bank
Bpifrance and U.S. private-equity company Clayton, Dubilier &
Rice, LLC would help provide equity financing.
"This project and its financing structure would allow for a
solid earnings per share accretion as early as the closing of the
transaction, and growing strongly thereafter," Spie said.
The offer is subject to confirmatory due diligence.
Equans was launched earlier this year as an independent
business, managing most of Engie's services-led activities in 17
countries. Equans combines activities that have a total 12 billion
euros ($14.25 billion) in revenue, according to Engie.
French utility company Engie previously said it would consider
all options regarding the evolution of the shareholding structure
of Equans.
Other parties interested in a deal include French
construction-and-media conglomerate Bouygues SA and
construction-and-concessions group Eiffage SA.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 06, 2021 05:17 ET (09:17 GMT)
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