CSCEC Algeria acquires BETOM Group
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E-mail China.org.cn, February 20, 2020
On Jan. 31, China State Construction Engineering Cooperation (CSCEC) Algeria and France's BETOM Group formally signed an equity transfer agreement, marking CSCEC Algeria's first successful acquisition in Europe. This move is a milestone in the company's strategy to conduct regional operations in the future.
BETOM provides services in engineering design and consulting, and has the ability to engage in the whole design process—from blueprinting and sketch design at the early stage, to providing optimal design (technical optimization and cost control) and technical support during project implementation, as well as final commissioning and project maintenance.
The predecessor of BETOM was an engineering design institute established in the 1970s by the Eiffage Group, the third-largest builder in France, which evolved into the BETOM Group after decades of development. The BETOM Group currently has over 140 employees and conducts business in almost all administrative regions in France. It has also involved in the engineering design of multiple projects in Morocco.
Over the years, BETOM has undertaken a series of world-renowned projects, such as the renovation of the Paris Opera House, the National Archives of France, and the Louvre Lens. BETOM has also won multiple awards including the best project award of the Summit for Real Estate, Territory Development and Infrastructures (SIATI). With high reputations in the engineering design industry in France, BETOM is a pioneer in the application of such technologies as building information modeling (BIM) and intelligent building.
It took a year and a half to complete the acquisition, which involved a complex process of on-site inspections, technical tests, financial, tax, and legal due diligence investigation, valuation, and more than 10 rounds of negotiations on core issues of the acquisition. After being approved by the headquarters, the win-win acquisition agreement was reached.
The acquisition has a strategic significance for the development of CSCEC. It will bring about a marked synergistic effect in improving project performance, expanding regional markets, diversifying talent recruitment channels and strengthening CSCEC's influence in Europe. It is also a steady step towards CSCEC Algeria's goal to become the most competitive construction group in the Mediterranean Basin.
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