Engie to Acquire Majority Stake in Electro Power Systems
24 Janeiro 2018 - 4:01PM
Dow Jones News
By Nathan Allen
Engie SA (ENGI.FR) will acquire a majority stake in French power
storage and microgrid provider Electro Power Systems (EPS.FR), the
company said Wednesday.
Neither company disclosed the exact size of the deal, but Engie
said it will own slightly above 50% of EPS's share capital and
voting rights following the completion of the transaction.
Engie said it has agreed a price of EUR9.50 a share for the
acquisition, equivalent to a 16.7% discount to EPS's closing share
price on Wednesday, according to FactSet.
EPS has installed 36 microgrid and energy-storage projects
across a range of countries, with a strong presence in Asia-Pacific
and Africa, according to the company's website.
The transaction fits into Engie's broader push towards
decentralized clean energy, said Executive Vice President Shankar
Krishnamoorthy
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
January 24, 2018 12:46 ET (17:46 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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