Initial public offering of Australian subsidiary postponed
July 05, 2010
July 5, 2010
Bilfinger Berger: Initial public offering of its Australian subsidiary postponed
Due to negative developments on the capital markets, Bilfinger Berger has decided to postpone the initial public offering of its Australian subsidiary. "Bilfinger Berger's asking price for the Australian business cannot realistically be achieved in light of the current adverse conditions on the stock exchange", said Herbert Bodner, Chairman of the Executive Board at Bilfinger Berger. "We are not under pressure to sell and have always emphasized that we would not part with our successful Australian business at an undervalued price".
Postponing the initial public offering does not change the fundamental decision to sell the Australian subsidiary and, thereby, to significantly reduce the volume of the construction business.
This announcement does not constitute an offer of shares for sale in Australia, the United States or any other country, or to any person that is, or is acting for the account or benefit of, a “U.S. person” (as defined in Regulation S under the United States Securities Act of 1933 (the “Securities Act”)) (“U.S. Person”), or in any other jurisdiction in which such an offer would be illegal. The shares have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons unless the shares are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.
