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PAI Considers Sale of Spie

French buyout shop PAI Partners is considering a sale of its majority stake in electrical and mechanical engineering group Spie, Reuters reported. PAI Partners bought a controlling stake in Spie in 2006 for around 1 billion euros ($1.41 billion).

(Reuters) – Private equity group PAI Partners is considering a possible sale of its majority stake in electrical and mechanical engineering group Spie, a spokesman said on Thursday. The process is at a very early stage and may lead to a sale to an industrial partner, another fund or a stock market listing, he said.

Spie Chief Executive Gauthier Louette told journalists he was in favour of an initial public offering in the long run.

“Eventually, we want to be listed in order to guarantee the group’s independence, but in the short term we could engage a new LBO,” he said.

PAI Partners bought a controlling stake in Spie in 2006 for around 1 billion euros ($1.41 billion)

Spie’s management and employees currently own 12.75 percent of the company. ($1=.7109 Euro) (Reporting by Matthias Blamont, Gilles Guillaume and Julien Ponthus; Editing by James Regan)