Construction News

Sat February 16 2019

Related Information

Alpiq opens arbitration proceedings against Bouygues Construction

2 days Bouygues Construction’s purchase last year of the Engineering Services division of Swiss energy business Alpiq is now heading to arbitration because of a CHF218m (£174m) disagreement about the final amount due.

The dispute centres on different views on the definitive purchase price adjustment amount based on the takeover balance sheet.

A price adjustment mechanism was agreed contractually between Alpiq and Bouygues Construction; it came into effect following the closing of the transaction in July last year. “While Alpiq is concluding on receiving an additional amount of CHF 12.9 million [£10.3m], Bouygues Construction is demanding payment of CHF 205.1 million [£163.5m],” said Alpiq.

Alpiq said that it vehemently contests the claim of Bouygues Construction both in terms of its amount and content.

MPU

Latest News

Click here to view more construction news »