The general meeting of the transport engineering group Systra, a subsidiary of Paris metro operator RATP and French rail operator SNCF, adopted on July 1, 2011 the takeover of 49% of the capital of engineering companies belonging to RATP (Xelis) and to SNCF (Inexia).
"The contribution of the remaining 51% of capital will be completed by December 31, 2012 at the latest," said a statement from the two parent companies, SNCF and RATP, adding however, that Systra
already has effective control of Xelis and Inexia which are no longer consolidated by SNCF and RATP.
This deal, introduced in late October 2010, allows "both to preserve the unity of the group Systra and to strengthen very significantly its international growth prospects," the statement said.
Systra, 36% owned by SNCF and 36% by RATP, is considered as the world leader in public transport engineering, even before the deal. It will now benefit from the railway expertise of Inexia, in particular with high speed and of Xelis's mastery in the new generation subways.
In addition, the general assembly approved the new governance of Systra which becomes a limited company managed by a supervisory board and an executive board.
Pierre Verzat in control
Pierre Verzat, currently CEO of Systra, becomes chief executive and will propose to the supervisory board, by the end of 2011, a plan for integrating the new group, the statement said.
Gilles Cartier and Philippe Naudi, respectively CEO of Inexia and Xelis, will join the executive board of Systra.
According to Systra's website, the group employed before the deal 2,470 persons in 2010 and achieved a turnover of € 257.8 million.
In 2009, Xelis achieved a turnover of 13.4 million and employed 122 people on 1 April 2010.
For its part, the same year, Inexia earned € 75 million, achieved a consolidated net profit
after tax of 3.2 million and had a staff of 600 people.