Vinci buys energy and telecoms business
Vinci Energies has reached an agreement with Swiss company Alpiq to acquire its Energieversorgungstechnik (EVT) division.
EVT groups together energy and telecommunications infrastructure engineering and installation activities in Germany and Central Europe. It offers services including engineering, planning, construction and maintenance for power transmission and distribution operators, telecoms infrastructure operators and industry.
EVT is based in Germany and has been operating in Central Europe for about 15 years through local subsidiaries. It has some 3,000 employees, and generated revenue of €512m (£124m) in 2011 and earnings before interest, taxes, depreciation, and amortisation of €37m.
Germany is already Vinci Energies’ second largest market, where it generated 2011 revenue of €1.2bn.
The EVT acquisition is based on an equity value of €195m and estimated liabilities of €45m for pension fund and minority interests. The transaction has been submitted for approval by the relevant competition authorities and is expected to be finalised during the third quarter of 2012.
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This article was published on 27/04/2012 (last updated on 27/04/2012).