Business NEWS
German Bilfinger Berger to Buy Austrian MCE Beteiligungs GmbH
By Hendrik L Clarke for CEOWORLD Magazine Updated:October 6, 2009
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German construction and services company Bilfinger Berger (GBFG.DE) said Tuesday it will acquire 100% of the shares in industrial and power services provider MCE Beteiligungs GmbH, based in Linz, Austria, for 350 million euros.
The German construction company said it will raise new capital to finance the deal. Bilfinger Berger will issue around 8.83 million new shares, increasing its share capital by about 25%.
MCE is based in Linz, Austria and employed 6500 people last year. It had sales of € 900 million and achieved earnings before interest and tax (EBIT) of € 45 million.
Bilfinger Berger says MCE is complementary to its Industrial Services and Power Services divisions. It is a full-service provider to the energy and process sectors, with activities focussed on Austria and Germany.
Executive Board chairman Herbert Bodner said, “MCE is an excellent addition to our existing services units. We are expanding our range of services and our client base. The acquisition further strengthens Bilfinger Berger’s leading position as a provider of industrial power services.
Deutsche Beteiligungs AG (DBAG.DE) is selling its 18.6 pecent stake in MCE to Bilfinger in a deal that it said would add around 15 million euros to the net result of Valuation and disposals for the fourth quarter.
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