Porr Bau acquires Bilfinger Infrastructure

Porr Bau, a subsidiary of Austrian Porr will take over Polish Bilfinger Infrastructure owned by German Bilfinger, for €21.5 million, Puls Biznesu daily informed on Friday, confirming its previous reports.

As Poland is one of Porr's "strategic markets," according to CEO, Karl-Heinz Staruss, the firm was "looking for a company which specializes in infrastructure constructing." If there is an acquisition, it will take place by the end of the year or not at all," Strauss pointed out a month ago. The value of the deal totals €21.5 million, part of this amount corresponds to Bilfinger's liabilities to its Polish unit. The transaction has to be approved by Polish anti-monopoly watchdog UOKiK. Porr recorded a €3.5 billion turnover in 2014, its portfolio is valued at over €4 billion. Bilfinger Infrastructure recorded a revenue of €166 million last year, according to data gathered by Porr, the daily said.