French utility Engie (ENGIE.PA) is considering selling businesses including industrial and nuclear plant maintenance specialist Endel, as it tries to recentre on its most profitable activities, according to two sources familiar with the matter. Engie, which is yet to replace ousted Chief Executive Isabelle Kocher, had already outlined plans several months ago to exit some markets and cut back in areas such as energy services. The coronavirus crisis has since hit this division particularly hard, and Engie said earlier this week it was stepping up efforts to reshape the group. In total, Engie’s disposal plans could affect 15,000 people employed in the units under review, according to the sources and France’s CGT union. Of those, 9,000 would be in France, the union added. Engie declined to comment on specific asset sales and said the job figures evoked by the CGT did not correspond to any concrete plans it was working on.
Reuters 13th May 2020 read more »