Sale of Power business segment: Bilfinger assigns sell-side mandate to Deutsche Bank
July 10, 2015
Bilfinger has mandated Deutsche Bank with the execution of the structured selling process for its Power business segment. On June 17, 2015, the Group decided to focus on the business with clients in the industrial and real-estate sectors in the future. The sale of the Power business segment, which brings together activities in the energy and power plant sectors, should be completed within one year.
"With Deutsche Bank, we have selected a partner with a great deal of experience in the expedient conduct of selling processes", says Bilfinger Chief Financial Officer Axel Salzmann. "Our common objective is to find a suitable new owner who can take advantage of the future opportunities in the power plant business."
The Power business segment, which has about 11,000 employees and generated an output volume of €1.45 billion in 2014, will be presented as discontinued operations in the interim financial statements as of June 30, 2015.