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GDF buys Balfour Beatty's UK facilities unit
August 9, 2013 / 6:16 AM / 4 years ago

GDF buys Balfour Beatty's UK facilities unit

PARIS, Aug 9 (Reuters) - GDF Suez said on Friday it had acquired WorkPlace, the facilities management unit of Britain’s Balfour Beatty, to bolster its energy services and facilities operations in Britain.

The enterprise value of the business on a debt and cash free basis is 190 million pounds ($296 million), but the cash payment will be reduced by pension liabilities and any net debt transferring with the business, GDF said in a statement.

Completion is expected in the fourth quarter of 2013, it added.

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