SNCF and RATP announced on Monday that they had entered into exclusive negotiations for the sale of a majority stake in Systra, a railway engineering company with 11,000 employees worldwide. The two public groups, which each own 43.4% of the shares, “have entered into exclusive negotiations with Latour Capital and Fimalac”, the investment company of Marc Ladreit de Lacharrière, “with a view to acquiring a majority stake” in Systra, as indicated in a joint press release.
Presented as the world number 3 in the sector, Systra “participated in the design of half of the metro lines and half of the high-speed lines in the world” and achieved a turnover of “approximately 1.1 billion in 2023.” of euros,” says the RATP. and SNCF. Latour Capital and Fimalac intend to acquire a total of 58% of Systra’s capital, including a portion of the group’s shares. SNCF and RATP “will remain active in Systra’s strategy, each retaining a 20% stake”, specify the two groups, which have not communicated any amount for the transaction.
Almost double turnover in 2030
The operation should allow Systra “to finance its development and guarantee its strategic independence”, stressed Jean Castex, general director of RATP, quoted in the statement. The goal: “to become the undisputed world leader in railway engineering” with “2 billion euros of turnover in 2030,” according to Jean-François Beaudoin, senior partner at Latour Capital. The possible sale “must still be presented to the social partners” and will be subject “to a certain number of prior regulatory authorizations,” the statement states.
Systra is accused by the courts of the derailment of the Eastern European LGV test train, which caused the death of eleven people in November 2015 in Alsace. The engineering company, in charge of the tests, denied any responsibility for the accident, insisting before the Paris Criminal Court on April 23 that it had “fulfilled all its obligations.”
Source: BFM TV
