by Olivia Bugault and Dimitri Delmond

 

French construction-and-media conglomerate Bouygues SA intends to make an independent bid for Equans in early September, its Chief Executive Officer Olivier Roussat said Thursday.

"We will submit our offer at the beginning of September and would not have to carry out a capital increase" to fund it, Mr. Roussat said during Bouygues's first-half results call.

Bouygues was initially considering a bid for Equans in partnership with U.S. private equity firm Apollo Global Management Inc., according to sources close to the company quoted last month by French financial media group L'Agefi.

Equans is owned by Engie SA and was launched this year as an independent business managing most of Engie's services-led activities in 17 countries. French utility company Engie previously said that Equans combines activities that have 12 billion euros ($14.13 billion) in revenues.

During its results call in July, Engie said it was continuing to "examine all options" regarding the evolution of the shareholding structure of Equans.

Other parties interested in a deal for Equans include French construction-and-concessions group Eiffage SA as well as a joint bid from French energy company Spie SA and U.S. private equity company Clayton Dubilier & Rice.

 

Write to Olivia Bugault at olivia.bugault@wsj.com and Dimitri Delmond at ddelmond@agefi.fr

 

This story was translated in whole or in part from a French-language version initially published by L'Agefi-Dow Jones.

 

(END) Dow Jones Newswires

August 26, 2021 06:32 ET (10:32 GMT)

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