A group led by U.S. buyout firm, Clayton Dubilier & Rice (CD&R), will acquire French engineering group, Spie, for €2.1 billion, The Wall Street Journal reports. CD&R partnered with Paris-based Axa Private Equity and Canada’s Caisse de Depot et Placement du Quebec, to offer a bid to PAI Partners.
A group formed by Carlyle and Bain Capital and another formed by Goldman Sachs’ buyout unit and CVC Capital Partners also showed interest in Spie, adds Bloomberg. Paris-based PAI Partners is selling Spie after buying it for €980 million in 2006.
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