FRENCH National Railways (SNCF) and Paris Transport (RATP) have confirmed that they have entered exclusive negotiations with Latour Capital and Fimalac to sell a 60% stake in Systra, the public transport engineering consultancy jointly owned by the two groups.
SNCF and RATP will both retain 20% stakes in the business, down from 43.4% each previously. No figure was provided for the value of the transaction, completion of which remains subject to regulatory approval and trade union consultation.
Four banks held a combined 11.4% share of Systra under the previous shareholder structure, with 1.4% consisting of treasury shares and 0.4% held by employees. IRJ is awaiting confirmation of the status of these shareholdings under the new structure.
Systra says the deal with Latour and Fimalac follows a “competitive sales process.”
Latour Capital is an independent management company with investments totalling more than €3bn. It says its main business concept is to invest in sustainable companies with proprietary products, strong growth potential, and good future prospects.
Fimalac is an investment company headed by Mr Marc Ladreit de Lacharrière, which is primarily focused on commercial property. Both investors are noted, according to SNCF and RATP, for their track record of supporting industrial companies.
RATP chairman, Mr Jean Castex, says the sale will allow Systra to finance its development and guarantee its independence “as the French leader in public transport engineering,” within a framework that respects its values and its culture of excellence.
Systra employs 10,700 people worldwide and is credited by SNCF and RATP for participating in “the design of half of the metros and half of the high-speed lines in the world.”
After recording turnover of approximately €1.1bn in 2023, Systra says it is intending to accelerate its growth strategy with the support of the new shareholders, specifically through a proactive growth strategy in regions with high potential.
“For several years we have been committed to a vigorous development plan in the very dynamic transport engineering market,” says Systra CEO, Mr Pierre Verzat. “The support of the new shareholders, alongside our historic shareholders SNCF and RATP, would enable us to move forward more quickly and more securely to make Systra an undisputed world champion in its category.”
“With our operational culture, we will work alongside Systra and its employees to provide them with all the means to become the undisputed world leader in rail engineering with a target of €2bn in turnover in 2030,” says Mr Jean-François Beaudoin, a former member of the Alstom executive committee and senior partner at Latour Capital.
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