Germany's largest builder Hochtief AG has engaged the services of BNP Paribas SA and the Macquarie Group Ltd to assist the company in exploring options for a couple of its property development units. This information was relayed by individuals knowledgeable of the transaction who spoke on condition of anonymity.
The options available for these two assets include its sale or entry into a partnership. The property development companies are HTP and Formart. The sale expects interest to be generated from both financial investors together with propery development companies.
Aside from this sale, the company is also selling its facility management and energy management businesses as well as processing the divestment of its shares in an airport. This is a reversal of a decades old strategy in the company after the assumption of new CEO Marcelino Fernandez Verdez. He comes from the majority ownership led by Actividades de Construccion & Servicios SA of Spain.
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