News from 09/05/2007
Strabag: Order volume at previous year's level
Strabag AG states that it has received orders amounting to €2.2bn during the first half of 2007 (first half year of 2006: €2.1bn). Of this
sum, €1bn was of domestic origin. The foreign share of €1.2bn was brought in mainly by Bau Holding Beteiligungs AG (BHB), in which Strabag holds a 35% share. Strabag's construction activity reached €1.7bn
during the first half of 2007, almost at the same level as in the previous year. Due to seasonal influences, the Cologne concern's yield was around €-29.2mn, after €-8mn during the first half of 2006. According to the firm, no more than a limited comparison with the previous year is
possible, as the previous year's result contained profits from the sale of building construction activites.
The Australian Hochtief subsidiary Leighton International Ltd. is carrying out a merger of its companies in the Persian Gulf region with the
construction firm Al Habtoor Engineering in Dubai. Leighton is investing approximately an additional €520mn to acquire 45% of the joint firm Al Habtoor-Leighton. The Board of Directors will be staffed equally by Leighton and Al Habtoor.
Deka Immobilien: Property at a value of €550mn to be sold
Deka Immobilien Investment is offering 24 properties having a total value of €550mn for sale. An article in Immobilienzeitung reporting this was confirmed by the company. Of the 24 items, 19 are part of the Hannibal-Portfolio, the attempted sale of which failed at the beginning of this year. The other five units are to be provided by Deka-Immobilienfonds. According to the report, this bunch just includes all of the fund's objects with a market value of below €10mn. The properties shall be sold in four packages.
Conceived as a fund-in-fund, Fonds Haus Hamburg's new Asia Fund participates in a fund issued by LaSalle that has a maximum total investment volume of US-$12bn.
Hypoport: Planning IPO at year's end
Hypoport, a financial services provider, wants to go public before the end of the current year. The company that develops, among other things, Internet platforms for construction financing, is striving for a membership in PrimeStandard, spokesperson of the board Thomas Kretschmar stated in the Financial Times Deutschland, not specifying the expected proceeds of the issue. Two-thirds of the sum shall go to Hypoport, one-third to existing shareholders. For a short time, Hypoport's activities have expanded from Germany to the Netherlands. According to Kretschmar, the company intends to enter new markets—including the big mortgage markets in Great Britain, Italy, and Spain.