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GDF Suez SA Announces Details of Acquisition of Balfour Beatty Plc's Balfour Beatty WorkPlace

Thursday, 8 Aug 2013 08:00pm EDT 

GDF Suez SA announced the purchase of Balfour Beatty Plc’s UK Facilities Management business – Balfour Beatty Workplace. Balfour Beatty WorkPlace provides a range of services to facilities across the UK, including hospitals, schools and local government establishments. The implied enterprise value of the business on a debt and cash free basis is GBP 190 million. The cash consideration will be reduced by pension liabilities and any net debt transferring with the business and is subject to certain adjustments based on completion accounts. Completion is expected in the fourth quarter of 2013. 

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-0.345 -1.69%
9:27am EDT