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GDF buys Lend Lease's UK facilities mgt unit

Published Mon, Jul 7, 2014 · 10:00 PM
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[PARIS] French gas and power group GDF Suez has bought the UK facilities management business of Australian property group Lend Lease, the firm said yesterday.

GDF is making the acquisition through its Cofely energy and technical services unit and said that the deal will provide Cofely with a guaranteed revenue stream of £2.5 billion (S$5.33 billion) through a portfolio of contracts with the healthcare, education, government and retail sectors. It gave no financial details.

Cofely said in December that it planned to buy several smaller peers with combined revenue of one billion euros to drive home its advantage as Europe's biggest provider of energy services for buildings.

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