Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Bouygues SA and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.