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ENGIE enters into exclusive negotiations with Bouygues for the sale of EQUANS

By 08/11/2021No Comments

ENGIE has entered into exclusive negotiations with Bouygues for the sale of  its services-led business, EQUANS, for a valuation of €7.1 billion

Following the decision of its Board of Directors, and after a rigorous and competitive process, ENGIE said the “Bouygues’ offer was the most compelling taking into account all criteria including financial valuation”.

This is a major step forward in the Group’s execution of its strategic plan presented in May 2021 towards building a simpler ENGIE that is focused on accelerating investment in its core activities, notably in Renewables, to achieve the Group’s climate ambition of Net Zero including all 3 scopes by 2045.

EQUANS is a global multi-technical services leader, which was created on 1 July 2021, as a separate division within ENGIE. It employs 74,000 people in 17 countries, of which 27,000 in France, and generates an annual turnover of over €12 billion.

Through the acquisition of EQUANS, Bouygues intends to create a world leader in multi-technical services, anchored in France. Bouygues has agreed to not implement any forced redundancy plans in France and Europe for five years after closing, and to create 10,000 additional jobs.

ENGIE expects the deal to close in H2 2022, subject to regulatory approvals and customary closing conditions.

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