CGE SA’s big computer services arm Generale de Service Informatique SA has completed its previously-announced management buyout of the company. Substantially all of the employees participated in the buy-out, which creates a free-standing company which had annual turnover of some UKP130m – $230m – in 1986. A quarter of the employees of the company, which includes substantial interests in West Germany as well as France, are shareholders of long standing. Terms of the agreement, which was financed with the help of the Initiative et Finance arm of Banque IndoSuez, were not disclosed. GSI will continue to work with CGE’s Alcatel unit on development of value-added network services.
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