HOCHTIEF Solutions AG, Essen, concluded a contract with SPIE S.A., Cergy-Pontoise/France, on June 28, 2013 on the sale of the Service Solutions business line in which the facility and energy management activities are pooled. To this end, the business line will be transferred into a subsidiary HTFM GmbH by way of a spin-off. The transaction will be carried out with economic effect of January 1, 2013.
In February this year, HOCHTIEF had announced that it will divest corporate entities which no longer form part of the core business. In addition to the already sold airports business of the Group, this also includes the Service business line of HOCHTIEF Solutions. This corporate entity offers facility and energy management services both in Germany and worldwide and has almost 6,000 employees.
Subject to final adjustments, the selling price amounts to approximately EUR 250 million. The sale is subject to certain conditions precedent and to approval by the responsible competition authorities. Closing of the transaction is planned by year-end 2013 at the latest.
HOCHTIEF expects a significant positive earnings effect from the sale. Through the transaction, HOCHTIEF’s financial situation will improve further and the Group will strengthen its competitive position.