Bilfinger has been approached by unnamed bidders for its property divisions.
In a statement the company has said that it has appointed advisers to review the offers and to conduct talks with any interested parties about taking over its Bilfinger Real Estate and Bilfinger GVA units as well as the 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 GVA which it acquired for around £150m in 2014 as an attempt to break into the lucrative real estate services business.
The sector generates around €2.4bn (£1.8bn) of revenue globally and has seen considerable consolidation over the past year, with DTZ and Cushman & Wakefield’s merger being the biggest example.
