ENGIE announced today that it has signed an agreement with the SPIE Group in order to acquire* SPIE Morocco’s operations.
The agreement was signed on December 20, 2017 by Bruno Bensasson (CEO of ENGIE Africa) and Jérôme Vanhove (SPIE’s Director of Strategy, Development and Acquisitions), enabling ENGIE to acquire SPIE Morocco. SPIE Morocco is a key player in the electrical works, HVAC (Hearing Ventilation and Air Conditioning), telecommunication systems and multi-technical maintenance market in Morocco. SPIE Morocco employs over 1,000 people and generated revenues of approximately €70 million in 2016. The company has been present in Morocco for more than 100 years.
Bruno Bensasson commented: “This acquisition is perfectly in line with ENGIE’s strategy of becoming one of the leading energy services companies on the African continent. We are pleased to be strengthening our foothold in Morocco by integrating SPIE’s skills. We believe that the synergies of the teams will be an essential asset in turning this new entity into a major player, with a stronger competitive position and added value for our customers.”
ENGIE is already very active in Morocco in multi-technical maintenance and Facility Management through its subsidiary Cofely Morocco and its partnership with the Finatech Group. By integrating SPIE Morocco’s skills, teams and operations, ENGIE is becoming Morocco’s leader in energy services and is taking a major step forward in its ambition to become an integrated energy services provider in Africa.
With over 1,300 employees, the new entity will serve as an operational platform supporting its industrial and service-sector customers in Morocco and in other African countries enabling ENGIE to consolidate its position as energy transition leader on the African continent.
* Completion of the transaction is subject to approvals of the relevant regulatory bodies.
About ENGIE AFRICA
For over 50 years, ENGIE has been active in many African countries through its energy engineering business, its natural gas purchase agreements with Algeria, Egypt and Nigeria and more recently as an independent power producer in South Africa and Morocco with a total capacity of 3,000 MW either in operation or under construction. By 2025, ENGIE aims to become a reference partner in about ten African countries for power plants, energy services to businesses and decentralized solutions for off-grid customers – communities, companies and households. For more information visit www.engie-africa.com
ENGIE is committed to taking on the major challenges of the energy revolution, towards a world more decarbonised, decentralised and digitalised. The Group aims to become the leader of this new energy world by focusing on three key activities for the future: low carbon generation in particular from natural gas and renewable energy, energy infrastructure and efficient solutions adapted to all its customers (individuals, businesses, territories, etc.). Innovation, digital solutions and customer satisfaction are the guiding principles of ENGIE’s development. ENGIE is active in around 70 countries, employs 150,000 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).