French firms Saint-Gobain and construction group Bouygues are reportedly studying a merger of their Saur and Cise subsidiaries to create France“s third largest company for public service contract man…
French firms Saint-Gobain and construction group Bouygues are reportedly studying a merger of their Saur and Cise subsidiaries to create France“s third largest company for public service contract management. If the merger is concluded, Bouygues and its Saur unit intend to buy 80% of Cise from Saint-Gobain for FFr 2.16 billion in early 1997. The new merged company would have an annual turnover of over FFr 12 billion, of which FFr 8.6 billion would come from France, with a nearly 19,000-strong workforce, Bouygues said. Saint-Gobain said in a separate statement the planned merger terms values the whole of Cise at FFr 2.7 billion.