ENGIE (EPA:ENGI) - ENGIE enters into exclusive negotiations with Bouygues for the sale of EQUANS for a valuation of €7.1 billion

Transparency directive : regulatory news

06/11/2021 00:49

Press release
5 November 2021

ENGIE enters into exclusive negotiations with Bouygues for the sale of EQUANS
for a valuation of EUR7.1 billion

Following the decision of its Board of Directors, and after a rigorous and
competitive process, ENGIE announces that it has entered into exclusive
negotiations with Bouygues for the sale of 100% of EQUANS. Bouygues' offer was
the most compelling taking into account all criteria including financial
valuation.

This is a major step forward in the Group's execution of its strategic plan
presented in May 2021 towards building a simpler ENGIE that is focused on
accelerating investment in its core activities, notably in Renewables, to
achieve the Group's climate ambition of Net Zero including all 3 scopes by
2045.

EQUANS is a global multi-technical services leader, which was created on 1 July
2021, as a separate division within ENGIE. It employs 74,000 people in 17
countries, of which 27,000 in France, and generates an annual turnover of over
EUR12 billion.

Through the acquisition of EQUANS, Bouygues intends to create a world leader in
multi-technical services, anchored in France. Bouygues has agreed to not
implement any forced redundancy plans in France and Europe for 5 years after
closing, and to create 10,000 additional jobs over 5 years.

Key financials and next steps

Bouygues' firm and binding offer values 100% of EQUANS at EUR7.1 billion on an
enterprise value basis(1). The proposed transaction will translate into a
EUR7.0 billion reduction in ENGIE's economic net debt.

It will be submitted to the relevant employee representative bodies for
consultation and is expected to close in H2 2022, subject to regulatory
approvals and customary closing conditions.

(1) Including IFRS16 debt

Catherine MacGregor, CEO of ENGIE said: "The compelling offers that we received
are a testament to EQUANS' global leadership in multi-technical services. By
joining Bouygues, EQUANS, under the leadership of Jérôme Stubler, will
benefit from the strong growth of its underlying markets. I am so proud of what
has been achieved by ENGIE in just a few months, thanks to the extraordinary
commitment of our teams. This is a major milestone in the execution of our
strategy, aimed at simplifying the Group and accelerating investment in our
core businesses, notably in Renewables."

Jérôme Stubler, CEO of EQUANS, commented: "I am extremely proud of the EQUANS
teams, their skills, their commitment and their success over the past few
months. I thank them for that. I am delighted with the industrial project, the
creation of a world leader and the social commitments of Bouygues, as well as
the promising prospects that are opening up for EQUANS."

Jean-Pierre Clamadieu, Chairman of the Board of ENGIE, added: "Today's
announcement is fully in line with the Group's strategic orientation announced
by the Board in July 2020. The EQUANS teams will join a group which will enable
them to seize numerous development opportunities. ENGIE will benefit from
important means to accelerate the implementation of its strategy. We are
convinced that this step is positive for all stakeholders and sets the
foundation for long-term growth of ENGIE."

About ENGIE

Our group is a global reference in low-carbon energy and services. Together
with our 170,000 employees, our customers, partners and stakeholders, we are
committed to accelerate the transition towards a carbon-neutral world, through
reduced energy consumption and more environmentally-friendly solutions.
Inspired by our purpose ("raison d'être"), we reconcile economic performance
with a positive impact on people and the planet, building on our key businesses
(gas, renewable energy, services) to offer competitive solutions to our
customers.

Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and
Brussels stock exchanges (ENGI) and is represented in the main financial
indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-
financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris - Eurozone
120/ Europe 120/ France 20, MSCI EMU ESG, MSCI Europe ESG, Stoxx Europe 600
ESG, and Stoxx Global 1800 ESG).

ENGIE HQ Press contact:
Tel. France: +33 (0)1 44 22 24 35
Email: engiepress@engie.com

ENGIEpress
Investor relations contact:
Tel.: +33 (0)1 44 22 66 29
Email: ir@engie.com

ENGIE Headquarters
Tower T1 - 1 place Samuel de Champlain - Faubourg de l'Arche - 92930 Paris
La Défense cedex - France
ENGIE ? A PLC WITH CAPITAL OF 2 435 285 011 EUROS - RCS NANTERRE 542 107 651
- Tel. +33 (0)1 44 22 00 00

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ENGIE (EPA:ENGI) - ENGIE enters into exclusive negotiations with Bouygues for the sale of EQUANS for a valuation of €7.1 billion

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