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Thu October 24 2024

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Alpiq opens arbitration proceedings against Bouygues ե֭

13 Feb 19 Bouygues ե֭’s purchase last year of the Engineering Services division of Swiss energy business Alpiq is now heading to arbitration because of a CHF218m (£174m) disagreement about the final amount due.

The dispute centres on different views on the definitive purchase price adjustment amount based on the takeover balance sheet.

A price adjustment mechanism was agreed contractually between Alpiq and Bouygues ե֭; it came into effect following the closing of the transaction in July last year. “While Alpiq is concluding on receiving an additional amount of CHF 12.9 million [£10.3m], Bouygues ե֭ is demanding payment of CHF 205.1 million [£163.5m],” said Alpiq.

Alpiq said that it vehemently contests the claim of Bouygues ե֭ both in terms of its amount and content.

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