Eranove

From Wikipedia, the free encyclopedia

Company typePublic limited company
IndustryAmenities provider
Founded2005
Headquarters
Paris
,
France
Eranove
Company typePublic limited company
IndustryAmenities provider
Founded2005
Headquarters
Paris
,
France
Key people
Vincent Le Guennou, Marc Albérola
Revenue€430 million
OwnersEmerging Capital Partners (53.3 %)
Number of employees
9,000
Websitewww.eranove.com

Eranove is a French company active in the management of public services and the production of electricity and drinking water in Africa. The company was formerly known as Finagestion.[1]

Eranove has been present in Côte d'Ivoire for several decades, in Senegal (SDE) since 1996, in the Democratic Republic of Congo since 2012 (service contract with Regideso), and in Benin since 2021 (through its subsidiary, Omilayé in the water sector in Benin). The company has also been developing projects in Mali since 2015 (Kénié Énergie Renouvelable), Gabon (Louetsi Hydro, Asokh Energy, Orélo),[2] Madagascar (Sahofika), and Togo (Kékéli Efficient Power). It generated revenues of €576 million in 2017.[3]

Eranove operates at a capacity of over 1,250 MW, employs over 8,700 people, and serves 1.9 million customers for electricity, 1.8 million for water,[4] and 470,000 for sanitation. The majority shareholder of the Eranove Group is ECP Finagestion FII S.a.r.l., affiliated with Emerging Capital Partners, a private equity firm.

The board of directors decided to rename Finagestion "Eranove" in July 2014 following a consultative process within the group's subsidiaries.[5]

Prior to renaming, between 2005 and 2006, the Bouygues Group sold its public services subsidiary, Saur, while retaining its African and Italian assets.[6] The African assets were housed in Finagestion, a holding company 100% owned by the Bouygues Group.[7]

Between July 2008 and October 2009, ECP FII Finagestion S.a.r.l., an affiliate of Emerging Capital Partners (ECP), gradually acquired a 60% stake in this entity from Bouygues.[7][8] ECP FII Finagestion S.a.r.l. currently owns 53.3% of the Eranove group.[9] ECP gradually transformed Eranove (at the time Finagestion) into a pan-African industrial platform.

Since 1960, the Eranove Group has been present in Côte d'Ivoire (Société de Distribution d'Eau de Côte d'Ivoire; Compagnie Ivoirienne d'électricité; Compagnie Ivoirienne de Production d'électricité; Awale). It began operations in Senegal in 1996 (Sénégalaise des Eaux). Since 2013, it has been active in the Democratic Republic of Congo through a service contract with the Régidéso. The group is also developing other projects across Africa, notably in Mali (Kenié Renewable Energy[10]), Gabon (Louetsi Hydro, Asokh Energy, Orélo[11]), Madagascar (Sahofika),[12] Côte d'Ivoire (Atinkou and Cavally),[13] and Togo (Kékéli Efficient Power).[14]

In the summer of 2015, the 18.6% still held by Bouygues were sold to French insurance company AXA.[15]

Shareholder distribution

Shareholder Percentage held
ECP 53.3
AXA Group subsidiaries 18.6
Private African investors 9.3
Employee shareholders 8.4
Managers 6.5
CNPS CI 4.7

Operations (through affiliates and service contracts)

Projects under exclusive development

References

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