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

People & Company News

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

WCI's Toohey Applauds WRDA 2016 Bill

Waterways Council, Inc. (WCI) President/CEO Michael J. Toohey issued a statement regarding today’s mark-up and passage of the Water Resources Development Act (WRDA)

Finance

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Baltic Index Dips on Weaker Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday, hurt by lower rates for capesize and panamax vessels.

Energy

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

India Instructs Disputed Tanker to Await UN Orders

India has instructed an Indian-flagged oil tanker that has been blacklisted by the U.N. not to discharge its cargo of crude oil from Libya's rival eastern government

Norway: Oil Industry Safety Deteriorated in 2015

The risk of accidents in Norway's oil industry rose last year after reaching record lows in 2014, a survey by the Nordic country's safety watchdog showed on Thursday.

News

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Disabled Fishing Vessel Towed to Maine

The 60-foot fishing boat Paulo Marc was towed by the crew of U.S. Coast Guard Cutter Moray after the fishing vessel became disabled Wednesday about 90 miles east of Portland, Maine.

Blacklisted Oil Tanker Returning to Libya

An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1247 sec (8 req/sec)