Spain's leading construction company ACS said Monday it now had a 29.27 percent stake in Hochtief as part of its bid to take control of the German group.
Southeastern Asset Management, an investor in construction group Hochtief, said Thursday it would sell two million shares to ACS of Spain, which has made a bid for the German firm.
German construction group Hochtief, fighting off a hostile bid from Spanish rival ACS, said on Monday that Qatar was acquiring a 9.1-percent stake in the firm following the issue of seven million new shares.
Spanish construction giant ACS was free Tuesday to launch formally a bid to take control of rival Hochtief and create one of the world's biggest building firms after receiving German regulatory approval.
Spain's largest construction group ACS said it presented its offer for German rival Hochtief to Germany's financial supervisory authority Bafin on Thursday.
Spanish construction giant ACS Group announced Thursday a €2.76-billion all-share takeover bid to take full control of German rival Hochtief to create a major world player.
Hochtief has won a contract to transform New York's Madison Square Garden, which a unit of the German construction group built more than 40 years ago, it said on Friday.
As a financial storm battered Europe and rain beat down on Frankfurt, the European Central Bank laid the cornerstone on Wednesday for its glittering new twin-towered headquarters.
Cologne observed a minute’s silence Wednesday to remember the two men killed a year ago when the city’s historical archive collapsed, as recriminations and accusations over the incident continued to fly.
Plans to flood a Cologne city centre metro tunnel in an attempt to prevent it collapsing after investigations revealed serious errors in its construction have been put on hold.
Cologne authorities have drawn up a drastic plan to prop up the city’s precarious metro construction sites by flooding them with water if a collapse seems imminent, city officials said Monday.
German industry trade experts fear the harsh winter could mean billions of euros in losses, daily <i>Bild</i> reported on Monday. But more cold, snow and traffic chaos were forecast after a stormy weekend.
A German property developer announced on Monday plans to build luxury villas and hotels on six artificial islands off the Dubai coast despite the Gulf emirate’s recent financial woes.
One of the Saxon capital’s landmark bridges over the Elbe, the 116-year-old Blue Wonder, suffers from major rust and water damage and needs urgent repair, Dresden city officials said this weekend.
Four weeks after the collapse of the Cologne’s historical archive, construction on the controversial north-south <i>Stadtbahn</i>, the underground metro believed to be the cause of the accident, is set to resume.
Some 15,000 Celle residents had to evacuate their homes on Monday evening while police defused a massive bomb from the Second World War, police in the state of Lower Saxony reported.
A largely unknown Italian architect has been chosen to rebuild a gigantic baroque palace in Berlin that was razed by the East German communist authorities and replaced with what many considered to be a modernist eyesore.
Denmark and Germany signed a treaty in Copenhagen on Wednesday for the construction of a giant bridge linking the two countries across the Fehmarn Strait in the Baltic Sea.
Building costs for Hamburg's new philharmonic have exploded by as much as €100 million, according to anonymous reports in German daily <i>Bild</i> on Wednesday.
Germany’s biggest construction company, Hochtief, said Wednesday that sales this year should surpass the record reached in 2007 and that net profit would also be higher than the previous year.
