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HOCHTIEF Completes Sale of the Services Business Line - HOCHTIEF Solutions AG, Essen, completed closing of the sale of its Service Solutions business line, in which the company’s facility and energy management activities are pooled, to SPIE S.A., Cergy-Pontoise/France - HOCHTIEF.com
HOCHTIEF Completes Sale of the Services Business Line

 

PRZOOM - /newswire/ - Essen, Germany, 2013/09/09 - HOCHTIEF Solutions AG, Essen, completed closing of the sale of its Service Solutions business line, in which the company’s facility and energy management activities are pooled, to SPIE S.A., Cergy-Pontoise/France - HOCHTIEF.com.

   
 
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The selling price amounts to approximately EUR 250 million, which has been fully paid in cash on closing. The sale has been completed expediently through a process lasting just six months.

The closing of the Service Solutions sale represents another important milestone in the delivery of the strategy announced at the beginning of 2013. The sale follows last week’s completion of the divestment of HOCHTIEF’s stake in Sydney Airport. HOCHTIEF expects closing of the sale of the entire Airports business line to PSP Investments for a total of approximately EUR 1.1 billion before the end of the year. Together, the Services and Airports transactions will generate approximately EUR 1.35 billion in proceeds (pre-tax).

The Group’s aim is to achieve increased cash-based profitability whilst reducing debt. In future, HOCHTIEF will focus on its core competency, delivery of infrastructure projects, streamline the organization and sell non-core businesses. In addition to the Services and Airports businesses, HOCHTIEF is also working on divesting other non-core businesses or looking for strategic partners.

Service Solutions management and employees have actively supported the transfer to the SPIE Group.

Further details will be provided with our nine-month results to be published on November 13, 2013.

About HOCHTIEF

HOCHTIEF (hochtief.com) is one of the world's leading construction groups. We have excelled for 140 years in our core competency of construction. Our focus is on complex infrastructure projects, many of which we deliver on the basis of concession models. We additionally develop and operate real estate and facilities.

With almost 80,000 employees and a sales volume of EUR 25.53 billion in FY 2012, the company is represented in all the world's major markets. The 2012 ranking from Engineering News-Record magazine reaffirmed our Group's status as the world's most international provider, with over 90% of sales outside of Germany.

 
 
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Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Completes Sale of the Services Business Line

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HOCHTIEF AG | Services Business Line
Contact: Christian Gerhardus - HOCHTIEF.com 
+49 201 824-2642 christian.gerhardus[.]hochtief.de
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any HOCHTIEF AG securities in any jurisdiction including any other companies listed or named in this release.

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