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Bouygues takes Colas out of the stock market and its CEO slams the door

2023-09-18T18:05:46.005Z

Highlights: Frédéric Gardès, CEO of Colas, Bouygues' road construction subsidiary, since 2021, has decided to resign. The construction giant will launch an offer to withdraw its subsidiary from Euronext and change governance. "This operation is part of an operation to simplify Colas' capital structure...," says Bouygue's CEO. The company has a turnover of 15.5 billion euros in 2022, 3% operating margin and employs 58,000 people in 50 countries.


The construction giant will launch an offer to withdraw its subsidiary from Euronext and change governance.


It's hard to talk about a smooth transition. Frédéric Gardès, CEO of Colas, Bouygues' road construction subsidiary, since 2021, after having been CEO between 2019 and 2021, has decided to resign. At 52 years old, it's hard to imagine him making this decision to sink a happy retirement. In reality, this announcement is part of a takeover of Colas, which has a turnover of 15.5 billion euros in 2022, 3% operating margin and employs 58,000 people in 50 countries, by Bouygues, which has decided to exit its subsidiary from the stock exchange.

In terms of shareholding, Bouygues' stranglehold was not in doubt: the construction giant is a shareholder of Colas to the tune of 96.8% (and 98% in terms of voting rights). In addition, its entry into the capital of the road specialist is very old, since it dates back to 1985. "This operation is part of an operation to simplify Colas' capital structure...

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Source: lefigaro

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