Responsive Image Banner

Hochtief sells Aurelis stake

Premium Content
Sarah Ann McCay

04 February 2014

Hochtief has agreed to sell a 43% share of real estate firm Aurelis to an investor consortium led by Grove International Partners LLP. Grove already controls the other 50% of Aurelis.

Hochtief’s remaining 7% asset in Aurelis will be sold to an independent investor.

Marcelino Fernández Verdes, CEO of Hochtief, said the transaction marked another significant step in the firm’s strategy of divestment.

The company plans to use the capital released from divestments for several purposes including strengthening its balance sheet, investing in the group’s core businesses and remunerating shareholders. Hochtief continues to study options for its remaining real estate business.

The Aurelis sale is subject to approval by German antitrust authorities, and is expected to close in the first half of 2014.

STAY CONNECTED

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Longer reads
Down and changing: ICm20 crane maker ranking
A decline in 2025 but perhaps smaller than might have been expected
Seven construction technology trends for 2026
Experts say mixed-fleet data, real-time intelligence and autonomous machines will reshape project planning and field execution
Electrifying change
Can there be a pain-free approach to powering the next generation of construction equipment?
CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]
Peter Collinson International Sales Manager Tel: +44 (0) 1892 786220 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA

Electrifying change

NEW ARTICLE

Off-Highway Research highlights steady progress in electrification, with market penetration at 0.8% and forecast to more than triple to over 3% by 2028. Nate Keller of Moog shares how hybrid innovation could accelerate this shift in the decade ahead.

Read now