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Hochtief stake sale ... a strategic move by QIA.

Qatar sells Hochtief shares for $614m

FRANKFURT, October 13, 2015

Qatar Investment Authority (QIA) has sold its 10 per cent stake in Hochtief AG for about €540 million  ($614 million), a source familiar with the matter said.

The sale will clear the path for Spain’s Actividades de Construccion & Servicios (ACS) to consolidate the German builder into its operations.

About seven million Hochtief shares are being sold by QIA for €77 apiece, a person familiar with the matter said.

ACS owns about 60 per cent of Hochtief's shares. - Reuters

Tags: Qatar | Hochtief | QIA |

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