Assystem signs an agreement to acquire Indian engineering company, STUP Consultants Private Limited
08 Marzo 2021 - 5:35PM
Assystem signs an agreement to acquire Indian engineering company,
STUP Consultants Private Limited
Assystem signs an agreement to acquire Indian
engineering company, STUP Consultants Private Limited
Paris-La Défense, 8 March 2021, 5.35
p.m. (CET) – Assystem S.A. (ISIN: FR0000074148 – ASY), a
leading player in engineering, has just signed an agreement with
the shareholders of the Indian engineering company, STUP
Consultants Private Limited (“STUP”), whereby Assystem will acquire
99% of STUP’s capital by the end of May 2021, provided that the
usual conditions precedent for this type of transaction are
met.
STUP generates some €20 million in annual
revenue and employs 1,100 people across India. Co-founded 57 years
ago by two disciples of the renowned French engineer Eugène
Freyssinet, Yves Guyon and C.R. Alimchandani, father of STUP’s
current Chairman, the company is one of India’s leading players in
transportation infrastructure engineering (motorways, railway
infrastructure, metropolitan networks and airport terminals). It
also operates in the water treatment and energy sectors and has an
excellent technical reputation in all of its business areas thanks
to its teams of highly experienced engineers.
Assystem’s objectives in acquiring STUP are
three-fold:
- Draw on STUP’s human resources and networks so as to capitalise
on the robust growth in the infrastructure engineering market in
India, propelled by new opportunities and prospects arising from
the country’s National Infrastructure Pipeline program which
provides for €1,400 billion dollars in investments over the current
decade.
- To have an existing and solid base in India to be able to offer
our globally recognised nuclear engineering services to the various
players involved in the nuclear power plant construction program
launched by the Indian government.
- Further strengthen our skills and expertise in non-nuclear
infrastructure engineering by leveraging the capabilities of STUP’s
teams, to help drive our international development.
India’s nuclear power plant construction program
is aimed at increasing the country’s nuclear power production
capacity from 7 to 63 gigawatts by the 2030s, therefore massively
increasing access to this safe, stable and carbon-free energy
source for its citizens and economic players. Assystem plans to set
up a nuclear engineering knowledge centre in India with a view to
becoming one of the country’s leading players in the sector.
Stéphane Aubarbier, Assystem’s Chief Operating
Officer, stated: “India is rolling out one of the world’s largest
and most comprehensive investment programs for electricity
production and transportation and urban infrastructure. Assystem is
determined to play a part in this program and therefore contribute
to the country’s energy transition through the rapid development of
new production sources for carbon-free electricity.”
About
AssystemAssystem is an international
engineering group. As a key participant in the industry for over 50
years, the Group supports its clients in managing their capital
expenditure throughout their asset life cycles. Assystem S.A. is
listed on Euronext Paris. For more information please visit
www.assystem.com / Follow Assystem on Twitter: @Assystem
CONTACTS
Philippe Chevallier CFO & Deputy CEO Tel.: +33
(0)1 41 25 28 07 Anne-Charlotte
DagornCommunications Directoracdagorn@assystem.com Tel.:
06 83 03 70 29 |
Agnès VilleretInvestor relations -
Komodoagnes.villeret@agence-komodo.comTel.: 06 83 28 04 15
|
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