UPDATE 1-Bouygues sells 35.7 percent of Finagestion unit

* Bouygues still owns 35 pct of Finagestion post sale

* Finagestion contributed 280 mln eur to Bouygues 2008 sales

(Adds details from statement)

PARIS, Nov 3 (Reuters) - French construction group Bouygues (BOUY.PA: Quote, Profile, Research) said on Tuesday it sold a further 35.7 percent of its Finagestion subsidiary to Emerging Capital Partners (ECP) for an undisclosed amount.

Bouygues retains a 35 percent stake in Finagestion, a holding company that owns water management activities in Senegal and Ivory Coast and power generation and distribution operations in Ivory Coast.

Finagestion contributed 280 million euros ($409.6 million) to Bouygues consolidates sales in 2008.

ECP, to which Bouygues sold a 29.3 percent interest in Finagestion in July 2008, is a major player in investment capital in Africa, the statement said. (Reporting by Dominique Vidalon; Editing by David Holmes) ($1=.6835 Euro)