Brief: MBB Acquires 60% Stake In Friedrich Vorwerk

MBB SE

20/06/2019 17:09

June 20 (Reuters) - MBB SE  MBBG.DE :
    * ACQUIRES A MAJORITY STAKE IN FRIEDRICH VORWERK, A CIVIL
ENGINEERING AND PLANT CONSTRUCTION SPECIALIST FOR UNDERGROUND
GAS, OIL AND POWER LINES
    * PARTIES INVOLVED IN TRANSACTION HAVE AGREED NOT TO
DISCLOSE
PURCHASE PRICE
    * MORE THAN EUR 6 BILLION WILL NEED TO BE INVESTED INTO
GERMAN GAS
NETWORK OVER NEXT FEW YEARS
    * TOGETHER WITH VORWERK, MBB WOULD HAVE GENERATED A
CONSOLIDATED
REVENUE OF OVER EUR 600 MILLION AT AN EBITDA MARGIN OF MORE THAN
10 % WITH OVER 3,000 EMPLOYEES IN FINANCIAL YEAR 2018
    * MBB STILL HAS CONSIDERABLE NET LIQUIDITY AND SEEKS TO GROW
ALSO
THROUGH ACQUISITIONS GOING FORWARD
    * ACQUIRES A 60 % STAKE IN FRIEDRICH VORWERK KG

Source text for Eikon:  ID:nEQ7HKKhka 
Further company coverage:  MBBG.DE 

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