Press release | 01.07.21
Assystem acquired 99% of the issued share capital of STUP*, in a transaction that was originally scheduled to close at the end of May 2021.
As stated in the press release dated 8 March 2021 announcing the acquisition agreement signed between Assystem and STUP’s shareholders, STUP generates some €20 million in annual revenue and employs 1,100 people across India. It is one of India’s leading players in transportation infrastructure engineering (motorways, railway infrastructure, metropolitan networks and airport terminals).
The price for the 99% stake is between €21 and €22 million, takes into account cash net of debt estimated to be some €1 million, and is subject to typical net cash/debt and working capital adjustments.
Assystem’s objectives in acquiring STUP are three-fold:
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