February 13, 2019 / 6:18 AM / a month ago

Alpiq, Bouygues fight over price of engineering business

ZURICH (Reuters) - Alpiq is fighting Bouygues Construction over the purchase price for the Swiss utility’s engineering business bought by the French company in 2018, with Bouygues demanding 205.1 million Swiss francs ($204.08 million).

Alpiq, which contends it is due another 12.9 million francs in the deal closed in July, said on Wednesday that it “vehemently contests” the claim of Bouygues Construction and has therefore filed for arbitration proceedings.

Alpiq received approximately 800 million francs in gross funds in the transaction, it said in a statement.

Reporting by John Miller; Editing by Michael Shields

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