(Bloomberg) -- Bouygues SA is considering selling parts of Equans, the services business it’s just bought from Engie SA, people familiar with the matter said.
The French conglomerate is working with advisers to discuss the sale of Equans’ district heating and electric car charging networks in the UK and Netherlands, according to the people. The assets could have a combined value of as much as €1 billion ($992 million), the people said.
Bouygues this week completed its roughly €6.5 billion-euro purchase of Equans, which installs and maintains electric systems such as air conditioning and telecommunications equipment, in what was its biggest ever acquisition. Engie sold the business to focus on renewables and large energy infrastructure.
Bouygues is looking to offload the district heating and electric car charging networks as they are more capital intensive than other parts of Equans, according to one of the people. The assets may attract infrastructure funds and strategic buyers, the people said, asking not to be identified discussing confidential information.
Deliberations are ongoing and no final decisions on the timing of any sales have been taken by Bouygues. A representative for Bouygues declined to comment.
The Equans acquisition will allow Bouygues, a construction, telecommunications and media conglomerate, to reinforce its own underperforming energy and services unit. The takeover is expected to be “significantly accretive” to the company’s earnings per share in year one, Bouygues said when the deal was announced.
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