Engie In Exclusive Talks to Sell Industrial Unit Endel to Altrad

Engie SA has entered into exclusive talks to sell its industrial maintenance unit Endel to French construction group Altrad as the utility continues to refocus on assets tied to the energy transition.

Endel reported about 550 million euros ($650 million) in revenue last year, and the transaction will have no significant impact on the group’s financial indicators, Engie said in a statement Tuesday. It’s “another milestone” in the simplification of the group’s service activities, the company said.

The divestment is part of Engie’s effort to boost profitability, with a greater focus on renewables investments and on infrastructure such as district ...