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An agreement has been reached between VINCI energies and the Swiss company, Alpiq to acquire Energieversorgungstechnik (EVT), its division that groups together its energy and telecommunications infrastructure engineering and installation activities in Germany and Central Europe.
EVT offers a widespread range of services including engineering, planning, construction and maintenance for power transmission and distribution operators, telecommunications infrastructure operators and industry.
With the acquisition of EVT, VINCI Energies strengthens its operations in Germany, its second largest market, where it generated 2011 revenue of €1.2 billion. It is thus positioning itself as one of the key players in Europe's infrastructure market in anticipation of a restructuring of the energy industry.
The deployment of new means of power production on the continent and the growth of new uses for electricity will make it necessary to adapt networks, creating a source of major opportunities for VINCI Energies.
The EVT acquisition is based on an equity value of €195 million and estimated liabilities of €45 million. The transaction has been submitted for approval by the relevant competition authorities and is expected to be finalised during the third quarter of 2012.
EVT is based in Germany and has been operating in Central Europe for around 15 years through local subsidiaries. With some 3,000 employees, the company generated revenue of €512 million and EBITDA of €37 million in 2011.
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