Bouygues, which currently holds 96.8% of Colas' share capital, will price the shares at 175 euros ($186.7) each. This will be followed by the delisting of Colas.

Separately, Colas will split the chief executive and chairman function, nominating Pierre Vanstoflegatte as new CEO.

(Reporting by Pierre John Felcenloben, Editing by Louise Heavens)