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HOCHTIEF Completed Sale of Property Management - HOCHTIEF AG, Essen, has concluded the sale of its subsidiaries HOCHTIEF Property Management GmbH and HOCHTIEF Asset Services GmbH to vincitag AG, Munich - HOCHTIEF.com
HOCHTIEF Completed Sale of Property Management

 

NewswireToday - /newswire/ - Essen, Germany, 2014/07/18 - HOCHTIEF AG, Essen, has concluded the sale of its subsidiaries HOCHTIEF Property Management GmbH and HOCHTIEF Asset Services GmbH to vincitag AG, Munich - HOCHTIEF.com.

   
 
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For HOCHTIEF, the sale is another consistent step in line with its strategy of concentrating on the core business of construction and divesting non-core assets. The transaction follows the sale earlier this year of the stake in Real Estate company aurelis. It has been agreed not to disclose further details of the contract.

Vincitag is a medium-sized group of companies with currently turnover of around EUR 100 million and approximately 900 employees. The company already operates in the area of technical building equipment and technical facility management. The shareholders have extensive experience in the integration, realignment and further development of companies. It is their goal to hold acquired companies over the long term and to give them a solid basis for successful development, profitability and growth. With the transaction, somewhat more than 500 employees will change employers. Over the last five years, vincitag companies have seen significant increases in employee numbers without exception.

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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Written by / Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Completed Sale of Property Management

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HOCHTIEF AG | Vincitag
Publisher 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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