Spie submits bid for Engie’s technical service provider, Equans


By Giulia Petroni

Spie SA announced on Monday that it is submitting a non-binding offer for the acquisition of Engie SA’s new technical service provider, Equans.

The French engineering company said the acquisition will be funded by a combination of debt and equity. Investment bank Bpifrance and US private equity firm Clayton, Dubilier & Rice, LLC would help provide equity financing.

“This project and its financing structure would allow a solid increase in earnings per share upon closing of the transaction, and strong growth thereafter,” said Spie.

The offer is subject to confirmatory due diligence.

Equans was launched earlier this year as an independent company, managing most of Engie’s service activities in 17 countries. Equans brings together businesses that total 12 billion euros ($ 14.25 billion) in revenue, according to Engie.

French utility company Engie has previously said it will consider all options regarding the evolution of Equans’ shareholding structure.

Other parties interested in a deal include the French construction and media conglomerate Bouygues SA and the construction and concessions group Eiffage SA.

Write to Giulia Petroni at [email protected]

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