Essen-based Hochtief Solutions AG is to sell its service solutions division to French company SPIE for around €250m.
Hochtief’s service solution’s division provides facility and energy management services and employs about 6,000 staff.
Hochtief is planning to transfer the company to the subsidiary HTFM Gmbh in order to divest the division. The transaction is expected to close at the end of 2013. Hochtief expects a significant positive impact on its results from the sale.
The sale to SPIE has put an end to negotiations with Finnish company YIT, which announced in May that it had made an initial, non-binding offer to acquire Hochtief Service Solutions.
The sale of the division follows Hochtief’s decision, announced in February, to divest its non-core activities. The company has already sold the firm’s airport business.
