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
Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc. Private equity firm Sycamore Partners has won the bankruptcy auction for the e-commerce business and intellectual property of U.S. women's apparel retailer The Limited with a bid of $26.8 million, Reuters reported, citing people familiar with the matter. A U.S. bankruptcy court judge must now approve the sale to Sycamore Partners. French telecommunications operator Orange SA reported Thursday higher net profit in its fiscal year 2016 mainly on income from discontinued operations. Operating income, meanwhile, declined, despite increased revenues. For fiscal 2017, the company projects higher adjusted EBITDA, a key earnings metric.
comments powered by Disqus
Follow RTT