Bilfinger SE

M&A Activity • Dec 20, 2010

News Details

Ad-hoc | 20 December 2010 22:15

Bilfinger Berger sells Valemus Australia

Bilfinger Berger SE / Key word(s): Disposal

20.12.2010 22:15

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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Bilfinger Berger sells Valemus Australia

As planned, Bilfinger Berger is selling its subsidiary, Valemus Australia:
on December 21, 2010 (Australian Eastern Standard Time), the company
executed an agreement for the sale of all of the company's shares to Lend
Lease, an Australian construction and real-estate group. The selling price
amounts to AUD 1,060 million. The transaction is subject to approval from
the Australian anti-trust authorities and completion is expected in the
first quarter of 2011.

Net proceeds for Bilfinger Berger from the sale, after deducting
transaction-related expenses, are approx. AUD 970 million. At current
exchange rates, this corresponds to approx. EUR 700 million.

An inter-company loan, which is expected to total EUR 125 million at the
end of 2010, must be repaid to Valemus Australia upon completion of the
transaction. The remaining net cash inflow of over EUR 500 million will be
invested in the further expansion of Bilfinger Berger's services business.
The sale of Valemus Australia, which will generate an output volume of over
EUR 3 billion in 2010, is a significant step for Bilfinger Berger in the
reduction of the company's construction business as planned.

Taking into account a risk provision for, among other things, contractual
warranty obligations, the capital gain from the sale is expected to be in
the range of EUR 160 million.

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Language: English
Company: Bilfinger Berger SE
Carl-Reiß-Platz 1-5
68165 Mannheim
Deutschland
Phone: +49 (0621) 459-0
Fax: +49 (0621) 459-23 66
E-mail: sabine.klein@bilfinger.com
Internet: http://www.bilfingerberger.com
ISIN: DE0005909006
WKN: 590900
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München

End of Announcement DGAP News-Service

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