Hochtief Concessions
| HOCHTIEF Concessions AG | |
|---|---|
| legal form | Corporation |
| founding | June 15, 2008 |
| resolution | August 31, 2012 |
| Seat | Essen , Germany |
| management | Reiner Schränkler, CEO |
| Number of employees | 317 (2010) |
| sales | 110 million euros (2010) |
| Branch | Construction service provider |
The Hochtief Concessions AG , based in Essen was a wholly owned subsidiary of Hochtief responsible -Konzerns for the development and implementation of concession - and operator projects. The business areas included airports, roads, social infrastructure / public buildings and other public-private partnership projects with the then subsidiaries Hochtief Airport and Hochtief PPP Solutions. Effective August 31, 2012, the company was merged with Hochtief Aktiengesellschaft.
Failed IPO and selling efforts
In 2009, Hochtief planned to go public for the Hochtief Concession, which was founded for this purpose, but this was canceled at the beginning of December 2009 due to an unfavorable stock market environment. In November 2010, Hochtief once again announced the intended full sale of its subsidiary as part of a hostile takeover offer by the Spanish construction group ACS . It later became known that the sales efforts were limited to the subsidiary Hochtief Airport ; Hochtief Airport and the airport holdings were then sold in May 2013.
Earnings before taxes in 2010 were € 84 million, the portfolio comprised around 100 schools, a community center, a barracks, two geothermal projects , several police facilities, seven streets and six airport holdings. The portfolio value was € 1.68 billion, of which € 1,351 million was attributable to airports, € 246 million to roads and € 77 million to social infrastructure projects.
Since the merger of the Hochtief Concession, the portfolio (excluding the airport holdings that have been sold) has been located entirely at the subsidiary Hochtief PPP Solutions.
Individual evidence
- ↑ Essen District Court, HRB 20707, new entry from June 15, 2008
- ↑ a b c Hochtief AG: Annual Report 2010. (PDF) Retrieved on June 12, 2011 .