Bilfinger Berger: Stock repurchase for €100mn announced
Bilfinger Berger AG, Germany's second biggest construction company, has announced a buyback of up to €100mn of its own shares. The M-Dax listed firm stated that it has no intention to cancel the shares it buys back. Instead, the concern wishes to maintain financial flexibility for acquisitions and to safeguard its growth strategy. It claims that, in view of current low price levels, current quotes for Bilfinger Berger stock are far from being an adequate reflection of the company's value.