Alpiq opens arbitration proceedings against Bouygues Construction
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.