FRANKFURT: German engineering and services company Bilfinger SE on Monday said it had sold parts of its construction division to Switzerland-based Implenia.
Bilfinger said proceeds from the sale are expected to be around 230 million euros ($280 million) and the deal is due to be completed in the first quarter of 2015 pending regulatory approval.
Taking into account a risk provision, a capital gain in the low double-digit million range will remain and will also take effect in the first quarter of 2015, Bilfinger said.
With regard to the remaining Polish construction business, the group is in contact with other interested parties, Bilfinger said.
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