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This agreement would stipulate that a director proposed by Qatari Diar would be appointed to the VINCI Board (subject to approval from the Group’s shareholders), and would also be a member of the strategy and investment committee. Qatari Diar would acquire a stake in VINCI while signing a stable shareholding agreement. The two partners are already working together within the Qatari Diar-VINCI Construction Grands Projets (QDVC) joint venture that is currently carrying out studies on the bridge that will be built between Qatar and Bahrain and are also working on several major projects for the future city of Lusail.įor Qatari Diar and VINCI, this major strategic partnership provides a unique opportunity to develop their joint operations. Simultaneously, Qatari Diar and VINCI have agreed to strengthen their business links by widening the scope of their cooperation started in 2007 to develop all the sectors of activity of VINCI in Qatar. growth in buoyant sectors such as energy, hydrocarbons, transport systems and nuclear power.Īccordingly, with CEGELEC, VINCI would become one of the top European players in the sector of services for business and local authorities in the field of energy. a complementarity of business sites, particularly in France acceleration of the Group’s penetration into international markets in energy business lines by building up its operations in Europe and opening up the market of emerging countries development in the field of multi-technical maintenance, a sector of activity that provides recurring activity a crucial contribution for the management of complex large projects at an international level, the weight of which is expected to grow in relation to the Group’s overall operations This ambitious business project would result in: The contribution of CEGELEC would enable VINCI to expand its energy division which would post revenue in excess of €7 billion in a sector set to post consistently higher growth rates than GDP. It operates primarily in four major sectors: electrical engineering, climate control and mechanical engineering automation, instrumentation and control information and communication technologies maintenance and services.ĬEGELEC’s headcount totals 27,000 employees and operates in more than 30 countries through more than 1,200 sites. In accordance with regulatory provisions, the project will be submitted first to employee representative bodies for consultation and will also have to be cleared by the competent competition authorities.ĬEGELEC is an international group that provides services to businesses and local authorities. This partnership would combine enhanced business cooperation and the finalisation of a stable shareholding agreement between the two partners. This transaction, aimed at underpinning an ambitious business project, would fit into the dynamics of a strategic partnership between Qatari Diar and VINCI. Qatari Diar would accordingly become VINCI’s largest shareholder behind the Group’s employee savings funds. This contribution is envisaged on the basis of 31.5 million VINCI shares for 100% of CEGELEC. Qatari Diar and VINCI announce that they have held exclusive negotiations that have resulted in the following proposal: Qatari Diar is to contribute its subsidiary CEGELEC to VINCI in exchange for an equity holding in VINCI. Qatari Diar to acquire a stake in VINCI and become its largest shareholder after its employees. broader business cooperation between Qatari Diar and VINCI
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tie-up between VINCI and CEGELEC to create a major European player in the energy services sector
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