The new entity is expected to generate annual sales of about 800 million pounds (930 million euros).
Balfour Beatty WorkPlace offers a range of services to thousands of companies in the UK, including many hospitals, schools and local government institutions. The company has won major contracts in the UK with clients such as the UK Department for Work and Pensions, the UK tax authorities, the Regional Council North East Lincolnshire and Romec joint venture with Royal Mail Group Group, which provides a wide range of technical and construction services to Royal Mail, Post Office and Parcelforce Worldwide.
The company should continue to provide services facility management to customers in the social sector in public-private partnership of Balfour Beatty in the UK and continue to work with the group in the development of its investments in the future.
Jerome Tolot, Executive Vice President of GDF SUEZ in charge of Energy Services, said: “This acquisition will significantly strengthen the Group’s position in Europe in the energy services and technical services and to allow GDF SUEZ establish a strong position in the UK. It fits in perfectly with the Group’s strategy to provide innovative solutions and high-energy performance in all types of buildings, in supporting our customers in the transition to a low-carbon emissions and creating cities of tomorrow. ”
The implied value of the company amounted to 190 million pounds (about 220 million) on the basis of a net debt to zero. The amount of the transaction will be reduced pensions and any net debt transferred with the business. It is also subject to certain adjustments in the financial statements closing. The transaction is expected to close in the fourth quarter of 2013, after the close of the financial statements to 27 September 2013. It remains subject to the approval of the relevant competition authorities.
