Spie: sells German offshore cabling division

(CercleFinance.com) - Spie announces the signing of an agreement with Royal Boskalis Westminster for the disposal of its submarine cabling business in Germany, which represents the majority of the Gas & Offshore division acquired with SAG in March 2017.


This disposal, which is set to be finalised in the first quarter of 2019, is part of Spie's strategy to focus on its core business, characterised by contracts in multi-technical services that are recurrent, of a small unit-size and low-risk.

"The completion of this transaction will mark the end of SPIE's major corporate reorganization and restructuring projects initiated in 2017," said Chairman and CEO Gauthier Louette, who adds that the group has "the right organization for 2019."


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