Sema Group Plc is to pay ú22.9m for a 40% stake in French facilities management company TS FM, part of the France Telecom FTLIS services subsidiary – formerly Telecom Logiciels et Systemes. Sema also has an option to a buy a further 10 percent for ú5.9m. TS FM’s business is conducted entirely in France, with around 50% of it coming from France Telecom. TS FM recorded turnover for 1994 of ú67.9m, with pre-tax pre-exceptional profit of ú4.5m. Sema has other facilities management activities in the UK, Sweden, Germany and Spain. Sema already has a joint venture activity here in the UK with FTLIS of which nothing has been heard since it was originally formed in 1993, and France Telecom became an indirect minority shareholder in the Sema facilities management subsidiary with 24.5%.
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