We advised the Bouygues Group, the global construction, telecom and media giant, on its acquisition of Destia from Ahlström Capital. We prepared and filed the merger control notification to the European Commission (“EC”) and obtained a swift, unconditional Phase I clearance from the EC on 16 November 2021. In connection with the acquisition, we also prepared and filed a foreign direct investment application for approval to the Finnish Ministry of Economic Affairs and Employment, obtaining the approval on 18 November 2021.
Bouygues is a diversified services group whose businesses are organised around three sectors of activity: construction (Bouygues Construction, Bouygues Immobilier, Colas), media (TF1) and telecoms (Bouygues Telecom). The Bouygues Group operates in over 80 countries with 129,000 employees and its turnover amounted to EUR 34.7 billion in 2020. Colas, a subsidiary within the group, is a world leader in the construction and maintenance of transport infrastructure, with consolidated revenue of EUR 12.3 billion in 2020.
Destia is the largest infrastructure service company in Finland. Destia’s services cover the entire infrastructure life cycle from design to construction and maintenance. Destia’s revenue amounted to EUR 564 million in 2020 and the company employs more than 1,600 professionals.
Destia was acquired by Ahlström Capital, the family-owned investment company, from the State of Finland in 2014.
Transaction Powerhouse – Acquisition by Colas of Destia