Alten: Agreement for acquiring GECI International's Engineering business

NEUTRAL, Fair Value EUR32 (-1%)

News published on November Thursday 28, 2013
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Yesterday evening Alten announced an agreement to acquire GECI International’s Engineering business. The deal is expected to be complete by the end of this year. We estimate such a deal will be slightly EPS accretive even though we believe GECI Engineering’s margin is below Alten’s for the time being. In addition, GECI Engineering will clearly enhance Alten’s position in Aerospace manufacturing engineering, which will accelerate the move required by Airbus in our view.


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