Energy Services Firm Spie Plans Autumn Debut

Tuesday, April 08, 2014

French energy services group Spie confirmed it was planning a stock market listing this autumn that analysts have said could value the firm at up to 4 billion euros ($5.5 billion).

Spie Chief Executive Gauthier Louette said the initial public offering (IPO) would involve the sale of existing shares and could be accompanied by a capital increase, but did not specify the amount.

The firm provides mechanical and electrical engineering services to help companies and the public sector make facilities more energy-efficient.

It competes with GDF Suez unit Cofely, Dalkia , Vinci Energies and Sodexo .

"We are at the very start of this process, but if there is no major upheaval on the markets, we could consider an IPO for this autumn," Louette told a press briefing on 2013 earnings on Tuesday.

French media reported late last year that Spie was considering a listing in 2014.

Spie - which is owned by private equity firms Ardian (formerly Axa Private Equity) and Clayton Dubilier & Rice and by

fund manager Caisse de depot et placement du Quebec - had 37,000 staff in 31 countries at the end of 2013, the company said.

Its adjusted 2013 operating profit rose 14 percent to 298 million euros as sales rose 11 percent to 4.6 billion euros.

More than half of its sales, 2.4 billion, came from France, another 1.05 billion from northwestern Europe, including the UK, Belgium and the Netherlands.

In June 2013, Spie paid 250 million euros for the facility and energy management business unit of Germany's Hochtief .

($1 = 0.7277 euros)

(Reporting by Matthieu Protard; Writing by Geert De Clercq; Editing by Erica Billingham)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

EU to Accept Antitrust Offer from Maersk, MSC, 13 Others

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe,

Hapag-Lloyd Agrees on Merger Terms with UASC

German container shipping line Hapag Lloyd AG on Tuesday said it has reached an agreement on terms and conditions of a business combination agreement with Arab

New Port Academy Liverpool Unveiled at Grand Opening

LIVERPOOL City Region has launched a new  £2.5 million maritime training academy which it believes is the only one in the U.K. to create vitally needed skills and

Finance

Baltic Index Rises for Fifth Consecutive Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments.

Singapore Exchange, Baltic Exchange Continue Transaction Talks

Singapore Exchange (SGX) has agreed with the Baltic Exchange Limited (Baltic Exchange) to extend the period of exclusive discussions regarding a cash offer for

Hanjin to Return 38 Vessels Next Year

Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports the Korea Herald. A

Energy

China's Robust Crude Oil Imports Mask Changing Fuel Dynamics

China is a bigger concern for crude oil and products markets than the current worries about the British vote to leave the European Union.   While the news media

EU to Accept Antitrust Offer from Maersk, MSC, 13 Others

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe,

Charting the Shift of Oceanic Boundary Currents

Global warming results in fundamental changes to important ocean currents. As scientists from the Alfred-Wegener-Institute show in a new study, wind-driven subtropical

News

Multraship’s New ASD Tugs Named in the Netherlands

Two Damen ASD 3212 tugs for towage and salvage specialist Multraship have been named on June 24 at Terneuzen, the Netherlands.   The Multratug 29 and Multratug 30,

China's Robust Crude Oil Imports Mask Changing Fuel Dynamics

China is a bigger concern for crude oil and products markets than the current worries about the British vote to leave the European Union.   While the news media

EU to Accept Antitrust Offer from Maersk, MSC, 13 Others

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1307 sec (8 req/sec)