Assystem completes 99% stake purchase in STUP Consultants
- Country:
- India
New Delhi, Jul 1 (PTI) French engineering group Assystem S.A on Thursday said it has completed the acquisition of 99 per cent of the share capital of STUP Consultants Pvt Ltd.
The price of the stake is between 21-22 million euros, which takes into account cash net of debt estimated to be some 1 million euros, Assystem said in a statement.
STUP generates around 20 million euros in revenues annually and employs 1,100 people across India.
With this acquisition, Assystem aims to optimise its globally recognised nuclear engineering services by capitalising on STUP's strong existing Indian base to support various players in the nuclear power plant construction programme launched by the Indian government.
The company plans to additionally set up a nuclear engineering knowledge centre in India.
Mumbai-based STUP offers services in transportation infrastructure engineering.
Google News