The sale of Bilfinger SE’s construction division to Implenia AG of Switzerland is expected to be finalized in the first quarter of next year, the two companies said.
Bilfinger expects net proceeds of about 230 million euros from the sale, which comes as it looks to exit the sector and complete its transformation into a services provider. The German company is still looking for a buyer for its Polish construction interests.
The unit that has been sold had finished contracts totaling around 600 million euros this year, and employs some 1,900 staff.
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