In line with the Group’s strategy to reinforce its local presence in integrated client solutions for a zero-carbon transition, ENGIE, which already owns 50% of CBFM, acquires the share that BESIX holds (50%). ENGIE becomes the only shareholder of CBFM, which will be rebranded ENGIE Cofely.
Established in 2008 as a partnership between ENGIE and Belgian construction group BESIX, CBFM is a major client solutions and energy services provider, with 2000 employees operating in the UAE, in Qatar (with its partner Mannai) and in Oman (with its partner Daud) on many landmark sites such as the Dubai Mall, Abu Dhabi’s Zayed University and the Qatar Foundation.
This acquisition is the result of ENGIE’s strategic ambition to become the world leader in zerocarbon transition, developing energy-efficient assets, putting in practice a unique integrated approach and accelerating the company’s growth across a broad spectrum of services.
For Paulo Almirante, ENGIE Executive Vice-President & Group Chief Operating Officer, “this move is strategic to ENGIE in the Middle East, because it provides direct access to the clients’ needs. It integrates into our portfolio a technical services team with a strong local reputation and provides a robust platform for future development in the region”.
ENGIE has been present across the Gulf Cooperation Council countries for over 20 years and has established its position as a leader in power and water production, with a total gross portfolio of 30 GW of power and over 4.5 million cubic meters per day of desalinated water. Globally, the Group employs 100,000 people devoted specifically to energy efficiency.
ENGIE and BESIX agree that their shared success in CBFM has demonstrated the strength of their ten-year partnership in the GCC region, and they will continue to explore regional opportunities to join forces for sustainable success.
Our group is a global reference in low-carbon energy and services. In response to the urgency of climate change, our ambition is to become the world leader in the zero carbon transition of our customers, in particular businesses and local authorities. We rely on our key businesses (renewable energy, gas, services) to offer competitive turnkey solutions “as a service”. With our 160,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress. Turnover in 2018: 60.6 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris – World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
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