Hochtief AG — M&A Activity 2007

Sep 25, 2007

News Details

Ad-hoc | 25 September 2007 08:55

HOCHTIEF Aktiengesellschaft: HOCHTIEF takes over US civil engineering company Flatiron Construction

HOCHTIEF Aktiengesellschaft / Acquisition

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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HOCHTIEF Aktiengesellschaft will take over Flatiron Construction
Corporation, Longmont (Colorado, USA) from the Dutch Royal BAM Group. The
Supervisory Board of HOCHTIEF has already granted its approval for the
acquisition. The purchase price amounts to USD 240 million plus USD 1
million interest per month from July 1, 2007 until financial close. After
the cartel authorities have given their approval, HOCHTIEF expects to
consolidate the company for the first time in Q4 2007. In 2006, Flatiron
and its almost 1,700-strong workforce generated annual revenues of more
than USD 626 million. The company ranks among the top ten vendors in the
transportation segment in the USA. In West Canada, Flatiron renders civil
engineering services for public-private partnership (PPP) projects.

HOCHTIEF will now also be present in the field of civil engineering in the
USA with an important company and profit from the upcoming multi-billion
programs of investment into the infrastructure. With Flatiron, HOCHTIEF
also positions itself in the now developing US market for public-private
partnerships at an early stage.
25.09.2007 Financial News transmitted by DGAP

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Language: English
Issuer: HOCHTIEF Aktiengesellschaft
Opernplatz 2
45128 Essen
Deutschland
Phone: +49 (0)201 824-1833
Fax: +49 (0)201 824-2750
E-mail: investor-relations@hochtief.de
Internet: www.hochtief.de
ISIN: DE0006070006
WKN: 607000
Indices: MDAX
Listed: Amtlicher Markt in Berlin, Frankfurt (Prime Standard),
München, Hamburg, Düsseldorf; Freiverkehr in Hannover,
Stuttgart; Terminbörse EUREX

End of News DGAP News-Service

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