Amec sells Spie

25 April 2008

UK: Amec has sold its French electrical engineering subsidiary Amec Spie to private investment group, PAI Partners, for UK£ 707 million (US$ 1.33 billion). The deal is expected to reach financial close in the third quarter of the year, netting Amec a UK£ 220 million (US$ 414 million) exceptional profit. Amec says it will use the proceeds to pay down its debt. Spie employs 23000 people across 380 locations in Europe. Last year it had sales of UK£ 1.76 billion (US$ 3.31 billion) and made a pre-tax profit of UK£ 50 million (US$ 94 million).

Construction
STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA