Engie splits in two with Equans, a subsidiary for sale

Engie’s service business now has a new home, Equans. A “group within the group” which generates 12 billion euros in turnover and which the energy company would like to sell.

The new entity was born on July 1, announced Christine MacGregor, the executive director of Engie, during a hearing at the National Assembly. Equans brings together the technical service activities of the energy supplier: this ranges from air conditioning to digital, including the installation of electricity, heating, ventilation, mechanics, etc. This new company, autonomous within Engie, employs 74,000 people worldwide, is present in 17 countries and generates a turnover of 12 billion euros. Its competitors are the French group Spie or the American Emcor, on ” promising markets »According to Jérôme Stubler, its managing director.

Technical services in a new entity

The manager assures us: Equans is a company which will know ” a very good growth “. Engie has every interest in promoting a great story, because the objective is to sell this subsidiary.After the creation of Equans within Engie, we are entering a new phase, where we will explore the possible evolution of the shareholder structure to allow Equans to achieve all its chances of growth and its development specific to its activities. », Explained Catherine MacGregor. A sale to a group or to several, to a fund or to several, or even a placing on the market, that is to say a stock market introduction.

Social promises

This sale will be accompanied by social commitments for the buyer, who will also have to respect promises in terms of employment. Equans employs 26,000 people in France. The State, a 23.6% shareholder in Engie, will be ” extremely attentive to the social aspect », According to the general manager. The staff representatives, for their part, favored keeping Equans in the bosom of Engie, they also formulated requests for social commitments ” strong and ambitious “. As for Engie, the company wants to focus on infrastructure and renewable energies.