Bouygues has announced that on December 31, its subsidiary Equans completed the sale of its UK district heating and cooling activities, excluding Humber Energy, to the consortium of Swiss Life Asset Managers and Schroders Greencoat LLP.

The sale, for a combined enterprise value of around £255 million, is in line with the agreement signed on September 15, and following European Commission and Cabinet Office approvals.

The divested business, known as Equans Urban Energy, comprises East London Energy Limited and Equans DE Holding Company Limited. The sale of Humber Energy is expected to be completed during 2024.

This transaction is in line with Equans' strategic plan, which calls for the disposal of asset-based activities. It will have no impact on Equans' sales and ROCA guidance presented at the February 2023 capital markets day.

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