logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Facebook's Chief Operating Officer Sheryl Sandberg said the company would be a founding partner of Station F start-up garage in Paris. There will be more than 3000 desks for tech companies at the start-up garage. In its first ever start-up project, Facebook plans to have 80 desks and would initiate the activities by April. Book retailer Barnes & Noble has pulled off from shelves its Nook tablet due to a faulty charger, after launching the cheap 7-inch tablet in November to take on Amazon's popular Fire tablets. Nook tablet has been removed from brick and mortar stores as well from online. Barnes & Noble has not issued... Morgan Stanley (MS) reported fourth-quarter net income applicable to company of $1.7 billion, or $0.81 per share compared with income of $908 million, or $0.39 per share, for the same period a year ago. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share...
comments powered by Disqus
Follow RTT