Demathieu Bard takes over Steiner Construction SA
Zürich/Montigny-les-Metz - Die Steiner AG schliesst den Verkauf ihrer Tochter Steiner Construction an die französische Bau- und Immobiliengruppe Demathieu Bard ab. Damit will Steiner die Konzentration der Firmenaktivität auf die Entwicklung von Immobilien beschleunigen.
Steiner AG has sold its subsidiary for total and general contracting in the construction industry to the internationally active French construction and property group Demathieu Bard. The Zurich-based real estate service provider intends to accelerate its focus on property development, Steiner announced in a press release. The purchase price for the subsidiary Steiner Construction SA was not disclosed. The internationally active Steiner Group has been part of the Indian infrastructure group Hindustan Construction Company(HCC) since 2010.
“The development of Steiner AG into a pure development company is an expression of our enormous success as a leading Swiss property company over the last ten years,” said Arjun Dhawan, Delegate of the Board of Directors and Vice Chairman of HCC, in the press release. “It is also a consequence of the opportunities we see for capital formation and future growth in Switzerland and abroad in order to maximise shareholder value.”
With the acquisition of Steiner Construction, Demathieu Bard aims to strengthen the Group’s international presence and consolidate its position as a reference company in the construction sector. “With the integration of Steiner Construction SA, Demathieu Bard is making its largest acquisition to date,” explains Stéphane Monceaux, CEO of the Demathieu Bard Group. Steiner intends to invest the capital gained from the sale “in a new and broader network of business opportunities”, according to the press release.