LBO France finalises Cegelec exit

LBO France has completed the sale of Cegelec to Qatari Diar, subsidiary of the Qatar Investment Authority, for EUR1.7bn. Nanterre-based Cegelec was founded in 1913. The company is a technological solutions and services integrator which offers solutions in energy and electricity; automation, instrumentation and control; information and communication technologies; heating, ventilation, air conditioning and mechanical engineering as well as in maintenance and services. Cegelec has 25,000 employees in around 30 countries. The firm generated EUR3bn in turnover in 2007. LBO France initially acquired Cegelec in Q1 2006 for EUR1.1bn.

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