VINCI creates Moroccan Facilities Management leader together with Caisse de Dépôt et de Gestion du Maroc
7 October 2011 - Acquisitions - Morocco
Through its subsidiaries CEGELEC Morocco and VINCI Facilities, VINCI has formed a partnership with Caisse de Dépôt et de Gestion du Maroc with a view to acquiring a 50% stake in Exprom, a subsidiary of CDG Développement that specializes in Facilities Management.
The acquisition of this stake will be accompanied by the sale by CEGELEC Morocco to Exprom of its multi-technical maintenance activity.
This merger, which will be submitted for approval by the competent authorities, will create Morocco’s leading Facilities Management company in a steady growth, high-potential market.
Facilities Management is the outsourcing of services required for buildings (maintenance, regulation compliance, energy efficiency, associated building work, etc.) and their occupants (reception, security, cleaning, reprography, space planning, etc.) to a specialized provider capable of carrying out all or part of the services in a complete and consistent fashion.
VINCI Facilities is part of VINCI’s Energy business line and provides comprehensive or partial building and occupant services: global facility management, multi-technical maintenance, security and reception, multi-services, document management and working space planning. VINCI Facilities is active in some 20 countries.
Cegelec Maroc, a subsidiary of VINCI’s Energy business line, is the leader in electrical engineering. Over the years, it has diversified into several markets and serves the industry, infrastructure, services and telecommunications sectors. Cegelec Maroc is 63rd on the list of Morocco’s 500 largest companies.
Find out more: www.vinci.com
Exprom is a subsidiary of CDG Développement created in 1995. Its core business is Facilities Management, where it has developed over 12 years’ experience with more than 100 clients throughout Morocco.
Find out more: www.exprom.ma
About CDG Développement
Holding company CDG Développement is a wholly-owned subsidiary of Caisse de Dépôt et de Gestion, created in 2004 to implement CDG Group’s strategy for its regional planning and development activities.
CDG Développement’s vocation is that of a long term operator and investor which reconciles financial performance and community interest. CDG Développement is present throughout Morocco and provides innovative development tools and efficient products and services that generate progress for the community in all its areas of intervention.
Through the professional expertise of its different subsidiaries, which operate in key development sectors, the holding company helps dynamise and boost Morocco’s national economy.
Find out more: www.cdgdev.ma
VINCI is a global player in concessions, construction and energy businesses, employing more than 217,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.