Bilfinger begins announced share buyback program: Purchase of up to 10 percent of the share capital at a maximum purchase price of €150 million
September 01, 2017
On September 6, 2017, Bilfinger SE will begin the buyback of the company’s own shares announced on February 14, 2017. The program will be completed between September 2018 at the earliest and December 2018 at the latest. During this time, the company will buy back a maximum of 10 percent of the share capital at a purchase price of up to €150 million.
“We firmly believe that Bilfinger is on track for profitable growth. Together with our dividend policy, the program offers long-term oriented investors an incentive to accompany us on the path we have chosen,” says Dr. Klaus Patzak, Chief Financial Officer of Bilfinger SE.
The shares will be bought back in accordance with the authorization granted by the Annual General Meeting on May 24, 2017, which also specifies the options for the possible use of the shares acquired. The buyback will be carried out through the stock exchange (Xetra) by an independent financial service provider in accordance with applicable EU regulations.
In future, Bilfinger will regularly report on the progress of the share buyback program on its website www.bilfinger.com.