May 30, 2007 / 5:09 PM / 11 years ago

Colas Buys Spie Rail to Boost Railway Business

PARIS (Reuters) - French construction group Colas (COLP.PA), a unit of Bouygues (BOUY.PA), said on Wednesday it would buy the railway business of civil engineering firm Spie, controlled by private equity group PAI Partners.

Colas said Spie Rail should generate sales in 2007 of around 310 million euros, excluding sales generated by the firm’s 50 percent stake in Europeenne de Travaux Ferroviaires, which French regulators have asked Colas to sell.

A Colas spokeswoman declined to say how much the group had paid for Spie Rail.

Colas said the acquisition would boost its existing railway business, Seco-Rail, which was also likely to generate sales of over 200 million euros in 2007.

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