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| Vinci acquires 41% stake in Entrepose Contracting French construction firm Vinci has signed heads of agreement with some of Entrepose Contracting's shareholders covering the acquisition of blocks of shares totalling 41% of the company's share capital, as part of a merger project, which will be in the form of a takeover of 100% of Entrepose Contracting. The shareholders include Ciclad, an independent French investment fund, and Entrepose Contracting's executives and corporate mutual fund. A cash payment will be made at the price of €65 per share for all shares except those exchanged by the corporate mutual fund and 60% of the shares being sold by Entrepose Contracting executives who will join the Vinci Group. Entrepose Contracting was created in 2001 by the takeover of Entrepose's international business activities – previously part of the GTM group - and is one of the key players for the oil and gas industry. The company carries out turnkey contracts in the field of energy transport (pipelines, compression facilities), processing terminals and storage (tanks) in numerous oil and gas producing countries, particularly the United Kingdom, Spain, Algeria, Nigeria, Middle East countries and Indonesia. write your comments about the article :: © 2007 Construction News :: home page |