Engie: in exclusive talks with Altrad for Endel

(CercleFinance.com) - Engie announced on Tuesday evening that it has entered into exclusive negotiations with the Altrad group for the sale of Endel, its industrial maintenance and energy services subsidiary.


The French energy group - which is seeking to simplify its services activities - said that it has received a firm and irrevocable offer from the building equipment specialist, without disclosing the financial terms of the proposal.

Endel - which works with clients in the nuclear, petrochemical, steel, refining, shipbuilding and pharmaceutical industries - currently employs around 5,200 people.

Last year, the subsidiary generated sales of around 550 million euros.

The transaction - which will not have a significant impact on Engie's financial results - is expected to be completed by early 2022.


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