Swiss Alpiq Completes Sale to Bouygues

Swiss utility group Alpiq has completed the sale of its engineering services business to French construction firm Bouygues for Swiss francs 850mn ($857mn), as announced March 26.

The deal was executed July 31, after approval by the EU and Swiss competition authorities. It said that gross proceeds of around Swiss francs (CHF) 800mn will increase liquidity and strengthen its core business.

Alpiq "will now focus on its core business, comprising a highly flexible power plant portfolio that is diversified both technologically and geographically throughout Europe, the marketing of flexibility of both its own power plant portfolio, and the decentralised power plants of third parties in Europe, international trading, wholesale and retail business as well as digital energy services," it said.

The utility - jointly controlled by Swiss EOS Holdings (31%) and French power giant EDF (25%) - reported on March 26 2018 a net full year 2017 loss under IFRS standards of CHF 84mn, which contrasted with its net 2016 profit of CHF 294mn.