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Bouygues Unit Agrees To Buy UK's Thomas Vale - Update

French construction giant Bouygues SA (BOUYY.PK) said Tuesday that its subsidiary Bouygues Bâtiment International has signed an agreement to acquire 100 per cent of U.K. contractor Thomas Vale Group.

Thomas Vale specialises in new build and refurbishment in the public and private arenas including retail, office and leisure sectors. The company has a proven track record in housing and regeneration through its long-term public sector partnerships.

The company has a well-established client base across central England, Bouygues added. It has won the Construction News 'Judge's Supreme Award' three times in recent years.

Worcestershire-based Thomas Vale expects to generate sales of over 200 million pounds for fiscal 2012. Established in 1869, it employs over 700 people.

The deal is significant for Bouygues Construction's expansion program in the UK, providing it with access to a geographical region that complements the group's existing subsidiaries in London, the South East, South West and Wales.

Bouygues Construction began operating in the UK around 15 years ago and operates several Private Finance Initiative contracts. The Group acquired Warings in December 2007 and the Leadbitter Group in early 2011.

Bouygues closed in Paris on Tuesday lower by 3.72 percent at 20.79 euros on a volume of 1.79 million shares.

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by RTT Staff Writer

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