Alpiq opens arbitration proceedings against Bouygues Construction

Bouygues

February 14, 2019 – Bouygues Construction’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 Construction; 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 Construction is demanding payment of CHF 205.1 million [£163.5m],” said Alpiq.

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

Source:- https://www.theconstructionindex.co.uk/news/view/alpiq-opens-arbitration-proceedings-against-bouygues-construction

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