27th Jul 2006 15:51
AMEC PLC27 July 2006 27 July 2006 AMEC plc ("AMEC") Disposal of AMEC SPIE AMEC, the international project management and services company, announces thatit has completed the disposal of AMEC SPIE to a new company controlled by fundsmanaged by PAI Partners for an equity value of approximately €1,040 million(£707 million). AMEC SPIE provides electrical engineering, communications services andspecialist activities in the energy and rail industries, predominantly in France.It has approximately 23,000 employees and operates from approximately 380European locations. Mr Jean Monville, Chairman of AMEC SPIE, has today resigned as a director ofAMEC to concentrate on running AMEC SPIE under its new owners. Enquiries to:AMEC plc: + 44 (0)20 7634 0000 Analysts and investorsStuart Siddall, Finance Director MediaCharles Reynolds, Head of Media Relations Citigroup Global Markets Limited: +44 (0)20 7986 6000Sam SmallDimitrios Georgiou UBS Limited: +44 (0) 20 7567 8000Tom CooperJames Robertson Notes to editors AMEC plc AMEC is a leading international project management and engineering servicescompany, with over 20,000 employees. We have a network of offices throughout theUK, US and Canada, as well as regional offices and projects worldwide. AMEC has two main areas of business: global Energy and Process engineering andUK Built Environment. The Energy and Process business designs, delivers and maintains assets such asoil and gas platforms, metal and mineral mines, gas and electricityinfrastructure and industrial and nuclear plant. It includes a specialistgeo-technical and environmental consultancy. It operates in areas including theUK, North America, Middle East, Africa, the CIS and the Asia Pacific region. The UK Built Environment business invests in and develops projects including PPPschools and hospitals, mixed use urban renewal projects and wind farms. It alsodesigns, delivers and maintains assets in the built environment for a range ofclients across the public and private sectors. AMEC is headquartered in London and its shares are traded on the London StockExchange where the company is listed in the Support Services sector (LSE:AMEC.L). Citigroup Global Markets Limited and UBS Limited are acting as FinancialAdvisers to AMEC in relation to the Transaction. Citigroup Global Markets Limited and UBS Limited are acting exclusively for AMECand are not acting for any other person in relation to the Transaction and willnot be responsible to any person other than AMEC for providing the protectionsafforded to clients of Citigroup Global Markets Limited and UBS Limited or forproviding advice in relation to the contents of this document or theTransaction. PAI partners PAI is a leading European private equity firm with offices in Paris, London,Madrid and Milan. PAI manages and advises dedicated buyout funds with anaggregate equity value of over €7 billion. In recent years, PAI has led several high profile European leveraged buyouts ofsector-leading companies. Acquisitions have included: Antargaz, the leading LPGdistributor in France (€520 million); Chr. Hansen, the worldwide leader innatural ingredients to the food industry (€1.1 billion); Cortefiel, the marketleading apparel retailer in Spain (€1.5 billion); Elis, the European leader inthe textile rental and well-being services industry (€1.5 billion); GlobalClosure Systems, the worldwide leader in speciality and beverage closure systems(€583 million); Kwik-Fit, Europe's largest automotive fast-fit services provider(€1.2 billion); Perstorp, the world leading producer of added value ingredientsfor the paint, resin and coatings industries (€1 billion); Saeco, the leadingEuropean coffee machine manufacturer (€825 million); Saur, a leader in the waterdistribution, sanitation and waste management in France (€1 billion); UnitedBiscuits, a public to private of the number 2 biscuits manufacturer in Europe(€2.3 billion); and Vivarte, the leading specialist retailer of footwear andclothing in France (€1.5 billion). PAI is characterised by its operational approach to ownership combined withindustrial and sector expertise. PAI provides portfolio companies with thefinancial and strategic support required to pursue their development and enhancestrategic value creation. For further information on PAI partners: www.paipartners.com. HSBC and Deutsche Bank are acting as Financial Advisers to PAI in relation tothe Transaction. Further enquiries to:Hudson SandlerSandrine Gallien +44 (0)20 77 96 41 33 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMFW.L