Engie to Acquire Spie's Moroccan Operations
December 21 2017 - 11:26AM
Dow Jones News
By Anthony Shevlin
France's Engie SA (ENGI.FR) said Thursday that it has signed an
agreement with Spie SAS (SPIE.FR) to acquire the company's Moroccan
operations.
Spie Morocco has over 1,000 employees and generated revenue of
approximately 70 million euros ($83 million) in 2016, said Engie.
The company has been operating in Morocco for more than a
century.
The electric utility company said the acquisition will enable
Engie to consolidate its position as energy transition leader on
the African continent.
Engie already has a presence in Morocco through its subsidiary
Cofely Morocco and its partnership with the Finatech Group.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
December 21, 2017 12:11 ET (17:11 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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