Newsroom Ed. Züblin AG / STRABAG AG

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Share purchase agreement concluded with minority shareholders of Ed. Züblin AG

Press release   •   Apr 07, 2016 14:30 CEST

  • Basic purchase price of € 210.3 million, plus variable portion
  • “Easier cooperation within the group”

The European construction and technology group STRABAG, via its subsidiary Ilbau Liegenschaftsverwaltung GmbH, now holds 94.9 % of Stuttgart-based Ed. Züblin AG. The remaining shares are being acquired by a core shareholder of STRABAG SE. The purchase agreement with all Züblin minority shareholders was concluded and signed yesterday with the approval of the Supervisory Board of STRABAG SE.

“In keeping with our motto of TEAMS WORK., STRABAG and ZÜBLIN, over the course of their ten-year working relationship, have defined common goals and are on the path to success. The full merger will allow an even closer partnership, facilitating the coordination of our corporate strategy and making cooperation easier within the group. My thanks go to all Züblin employees: They have already shown how partnership can help to master highly complex projects as well as technical and commercial challenges across brands, borders and business units,” says Thomas Birtel, CEO of STRABAG SE.

A basic purchase price was agreed in the amount of € 210.3 million. The agreement also includes a provision for a variable purchase price portion, to be determined depending on Ed. Züblin AG’s respective net income after minorities for each of the years 2015 to 2019. Shares of STRABAG SE are not being used as acquisition currency.

STRABAG SE had initially acquired its stake in ZÜBLIN in 2005 in the course of the insolvency of then-owner Walter Bau AG, increasing its holdings through subsequent smaller purchases. Most recently STRABAG SE held 57.26 % of ZÜBLIN’s shares. In 2006, the group bundled its building construction and civil engineering activities in Germany at ZÜBLIN and its transportation infrastructure activities at Cologne-based STRABAG AG.

Stuttgart-based Ed. Züblin AG has about 14,000 employees and, with an annual output of over € 3 billion, is one of Germany’s leading construction companies. Since it was founded in 1898, ZÜBLIN has been successfully realising challenging construction projects in Germany and abroad and is the number one in the German building construction and civil engineering segment. The company’s range of services comprises all construction-related tasks – from civil engineering, bridge building and tunnelling to complex turnkey construction to structural timber engineering and public-private partnerships. ZÜBLIN attaches great importance to partnership-based cooperation, and our ZÜBLIN teamconcept has proved its value as a successful partnering model for more than 15 years now. Current construction projects of the company, a subsidiary of globally operating STRABAG SE, include the new Axel Springer building in Berlin, Messehalle 12 in Frankfurt and the Albabstieg Tunnel along the new Wendlingen–Ulm railway line. More information is available at www.zueblin.de