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Eiffage S.A. — M&A Activity 2013
Dec 23, 2013
1275_iss_2013-12-23_d56cac1c-43ad-4981-9cbb-e71df8674f53.pdf
M&A Activity
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December 23rd 2013
EIFFAGE has finalised the disposal of two hospitals PPPs for a global valuation* of € 272 million
EIFFAGE has finalised the disposal of 100% of two companies dedicated to the public-private partnerships of the Annemasse (Hanvol) and Rennes (H'ennez) hospitals to Meridiam Infrastructure for a global valuation* of euros 272 million.
Created by EIFFAGE, these two companies hold partnership contracts (in the form of long term hospital leases) for the design, construction, financing and the operation of the aforementioned buildings which were put into service respectively in 2010 and 2011.
The EIFFAGE Group will keep on providing the operation and facility management of these PPPs until the end of the contracts, thereby demonstrating its long standing commitment as a partner of the public authorities.
This transaction initiates a relationship between EIFFAGE and Meridiam in the PPP sector.
These disposals are part of the active PPP portfolio management strategy of EIFFAGE. They follow the disposals of OPTIMEP 4 to DG Infra in December 2011 and of the Group share of ADTIM to OFI Infravia in December 2012.
EIFFAGE will also sell to Meridiam, during 2014, and subject to the clearance of the public authorities, the company Centor 36 who holds a PPP contract for the gendarmerie barracks in Châteauroux. Centor 36 is valued at euros 35 million. Once the Centor 36 transaction realised, EIFFAGE would have closed for more than euros 600 million of disposals since the end of 2011.
*: including the market to market value of the swaps for euros 61 million at 31 December 2012
Regarding Eiffage
Eiffage is the fourth-ranking construction and concessions company in Europe. The Group's activities are organised as five business lines: construction, civil works, energy, metal and concessions with PPPs. Thanks to the experience of almost 70,000 employees, Eiffage generated revenues of more than €14 billion in 2012, including 15% outside France.
Regarding Meridiam
Meridiam Infrastructure is a long-term independent investment firm founded in 2005. It specializes in the development, financing, and management of public infrastructure projects through their core 25-year duration institutionally-backed funds. With more than 100 investment professionals and asset managers across offices in Paris, New York, Toronto and Istanbul, Meridiam is the leading fund investor in public infrastructures in Europe and North America. With nearly €2.8 billion (\$3.5 billion) of assets under its management, the firm has to date invested in 28 projects in transport, buildings and public services and received the 2013 Overall Infrastructure Fund of the Year award and the 2012 European Infrastructure fund of the Year awards. Meridiam obtained an ISO 9001-certification for its responsible investment process in January 2012.
Investor contact: Xavier Ombrédanne
Eiffage - 163 Quai du Docteur-Dervaux 92601 Asnières-sur-Seine Cedex Tel: + 33 (0)1 41 32 81 44 – E-mail: [email protected]
Press contact: Sophie Mairé Eiffage - 163 Quai du Docteur-Dervaux 92601 Asnières-sur-Seine Cedex Tel: + 33 (0)1 41 32 78 84 – E-mail: [email protected]