Bilfinger has been approached by unnamed bidders for its property divisions, Bilfinger GVA and Bilfinger Real Estate.
The German company said it had appointed advisers to review the offers and to conduct talks with any interested parties as well as divisions responsible for building design and construction.
The statement comes just months after the engineering company’s new chairman, Per Utnegaard, said that the business was looking to expand its real estate services business in a “two pillar” group strategy.
Should the company decide to sell the division it will see the engineering company abandon this strategy and exit what was GVA, which it acquired for around £150m in 2014 as an attempt to break into the real estate advisory business.
Such a demerger would echo the strategy of UGL, which bought DTZ in 2011 before merging it with its facilities management business and then demerging the enlarged entity to a TPG-backed consortium in 2014. The consortium has since bought Cushman & Wakefield.
Deloitte Real Estate has rebuffed an approach by Countrywide, owner of Lambert Smith Hampton, to buy the business.
Deloitte is not in talks with any companies about a sale of its real estate business unit.
Deloitte bought Drivers Jonas in January 2010.
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