FRANCE – BPE to divest Converteam

HSBC, Lehman Brothers, Natixis, Société Générale and Royal Bank of Scotland are reportedly finalising a staple financing agreement; a pre-arranged debt package for the winning bidder.

Massy-based Converteam is a power conversion engineering company, which manufactures rotating machines, converters and drives for the marine, oil and gas and offshore energy industries. The company has 4,600 employees worldwide and recorded an 80% increase in orders to achieve turnover of EUR 1.43bn in 2007.

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