FRANKFURT (Reuters) – German industrial services provider Bilfinger is considering growth through mergers and acquisitions and is eyeing the Middle East and the United States as potential places to do so, the company’s chief financial officer told Boersen-Zeitung.
“Our firepower amounts to several hundred million euros,” said Matti Jaeckel. “Banks are ready to support us in potential acquisitions.”
Asked whether Bilfinger, which has a market value of 1.6 billion euros ($1.7 billion), was the most potential takeover target, Jaeckel said there was currently no reported interest from strategic bidders.
“And takeovers by financial investors have become much more difficult due to the strong performance of share prices.”
Bilfinger was subject to takeover speculation in 2020 and 2021, with French industrial services group Altrad named as a potential buyer at the time, but a deal never materialized.
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