ENGIE, which already owns a 50 per cent share of Cofely BESIX Facilities Management (CBFM) has acquired the remaining 50 per cent of shares from its partner, Belgian construction group, BESIX.
ENGIE now becomes the only shareholder of CBFM, which will be rebranded to ENGIE Cofely.
Established in 2008 as a partnership between ENGIE and BESIX, CBFM is a major client solutions and energy services provider, with 2,000 employees operating in the UAE, in Qatar (with its partner Mannai) and in Oman (with its partner Daud) on many landmark sites such as the Dubai Mall, Abu Dhabi’s Zayed University and the Qatar Foundation.
The acquisition is the result of ENGIE’s strategic ambition to become the world leader in zero-carbon transition, developing energy-efficient assets, putting in practice a unique integrated approach and accelerating the company’s growth across a broad spectrum of services.
Paulo Almirante, ENGIE Executive Vice-President & Group Chief Operating Officer, commented: “This move is strategic to ENGIE in the Middle East, because it provides direct access to the clients’ needs. It integrates into our portfolio a technical services team with a strong local reputation and provides a robust platform for future development in the region.”
ENGIE has been present across the Gulf Cooperation Council countries for over 20 years and has established its position as a leader in power and water production, with a total gross portfolio of 30 GW of power and over 4.5 million cubic meters per day of desalinated water.
Globally, the Group employs 100,000 people devoted specifically to energy efficiency.
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