UK construction and development company Amec is looking to expand its international network by making a strategic investment in the electrical and construction business of Spie Batignolles (Spie).
The property development arm of the French company was taken over by Schneider following a management and financial restructuring last year. A deal with Amec could be completed by the end of the year.
Peter Mason, group chief executive of Amec, said: “I have been most impressed with Spie’s management team and the progress they have made in revitalising Spie.
“While there remains much to be done before this transaction can be concluded, there is no doubt, provided it is clearly earning enhancing, it represents an excellent opportunity to develop Amec’s position outside of the UK in line with our stated long-term strategy.”
