Bilfinger looks to US, Middle East for M&A expansion, CFO tells Boersen-Zeitung
06/04/2024 11:08
FRANKFURT, April 6 (Reuters) - German industrial
services provider Bilfinger GBFG.DE is considering growing
through mergers and acquisitions and is looking at the Middle
East and United States as potential places to do so, the
company's finance chief told Boersen-Zeitung.
"Our fire power is several hundreds of millions of euros,"
Matti Jaekel was quoted as saying. "Banks are prepared to
support us in potential takeovers."
Asked whether Bilfinger, which has a market valuation of 1.6
billion euros ($1.7 billion), was a potential takeover target
itself, Jaekel said that there was currently no known interest
from strategic bidders.
"And a takeover by financial investors has become much more
difficult due to the good share price performance."
Bilfinger was subject to takeover speculation in 2020 and
2021, with French industrial services group Altrad being named
as a potential buyer at the time, although no deal materialised.
($1 = 0.9229 euros)
(Reporting by Christoph Steitz; Editing by Kirsten Donovan)
((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))