Bain says to partner with French holding Fimalac on Equans bid

Bain Capital Specialty Finance

20/10/2021 17:18

PARIS, Oct 20 (Reuters) - U.S. private equity firm Bain
Capital  BCSF.N  plans to partner with French financial firm
Fimalac in its bid to acquire utility Engie's Equans services
unit, France's Les Echos newspaper quoted a Bain executive as
saying.
    Bain is competing with Bouygues  BOUY.PA  and Eiffage
 FOUG.PA  to acquire the unit, in a deal which sources close to
the deal estimate will be worth between 5 billion and 6 billion
euros ($6.99 billion).
    Matthias Boyer Chammard, a Bain Managing Director for
private equity, was quoted as telling Les Echos that, under the
firm's bid proposal, Bain would retain 50-60% of the equity in
Equans, while Fimalac would take a 20 % stake.
    Under the Bain proposal, Engie could retain a 20% stake in
its former unit after the deal, the newspaper quoted Boyer
Chammard as saying. 
    Bain also envisaged inviting French state-owned bank
Bpifrance to take a stake in Equans of between 5% and 10%, Les
Echos quoted Boyer Chammard as saying.
    Equans provides energy and facilities management services to
client companies and employs around 40% of Engie's total
workforce worldwide.
($1 = 0.8587 euros)

 (Reporting by Christian Lowe
Editing by GV De Clercq)
 ((christian.lowe@thomsonreuters.com; +33 1 49 49 52 07;))