BOUYY - Engie in talks to sell Equans unit to Bouygues for Euro7.1B

Engie (OTCPK:ENGIY) says it entered talks to sell its Equans services unit to conglomerate Bouygues (OTCPK:BOUYF) for €7.1B ($8.2B). Bloomberg says the sale would help Engie fund its transition to cleaner energy, including renewable power generation and infrastructure such as district heating and car-charging networks. With €12B in annual revenue, a purchase of Equans would make industrial services one of Bouygues' biggest activities. The sale is a politically sensitive issue in France, as Equans employs 27K workers in the country. Engie sold most of its stake in French water company Suez last year.

For further details see:

Engie in talks to sell Equans unit to Bouygues for €7.1B