FRANCE - LBO France to divest Cegelec
According to reports, LBO France and the management team have entered exclusive negotiations with Qatari Diar after seeing around ten offers tabled for electrical engineering group Cegelec. The asking price is thought to be around EUR 1.7bn.
Nanterre-based Cegelec was founded in 1913. The company is a technological solutions and services integrator which designs, installs and maintains systems and sub-systems for the infrastructure, industrial and the tertiary sectors. Cegelec has 25,000 employees in around 30 countries and generated EUR 3bn turnover in 2007.
LBO France initially acquired Cegelec in Q1 2006 for EUR 1.1bn.
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