French energy giant GDF Suez is to take over Balfour Beatty’s facilities arm – which runs power stations across the UK.
Balfour Beatty WorkPlace, which has major contracts with the NHS, Royal Mail and runs facilities at the Olympic Games site in London, has been bought for £190million.
The group, which will be merged with GDF Suez’s energy services arm, also won a five-year deal from EDF Energy earlier this year to help maintain the new West Burton B gas power station in Nottinghamshire.
More than 9,000 staff will transfer across to the new group, with GDF saying it does not plan to cut any jobs.
“This acquisition will consolidate the group’s significant European position in energy and facilities services and will also create a strong position for GDF Suez in the UK,” said
Jerome Tolot, chief executive of GDF Suez Energy Services.
The deal is expected to complete by the end of the year. Balfour will use the proceeds to cut debt and fund investments.
Balfour boss Andrew McNaughton said the sale was an “important step in our evolution as we intensify our focus on infrastructure”.
The enlarged business will generate revenues of around £800 million.