The shortlist of businesses in the running to buy Bilfinger’s property divisions has narrowed to two parties – EQT and ENGIE.
A decision as to whether the Swedish private equity firm or the French facilities management company is the preferred buyer is expected to be made towards the end of this month, ahead of Bilfinger’s annual general meeting on 11 May.
The other two parties previously on a list of four were JLL and private equity firm Triton Partners.
Although only two companies remain in the running to undertake an initial transaction, with Bilfinger aiming for a sale of all of its property divisions as a whole, a number of parties are interested in potential trades of sub-divisions, should the winning party be willing.
These parties include French facilities management firm, Sodexo, CBRE and Lambert Smith Hampton owner Countrywide.
The news comes in the same week that Bilfinger chief executive Per Utnegaard stepped down for “personal reasons”, having been in the role for 11 months.
Utnegaard led the company’s executive board, which is driving the sale.
Chief financial officer Axel Salzmann is taking on the role on an interim basis from 30 April and a successor is expected to be announced shortly.
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