FCC-Alpine

Austria: Spanish construction group FCC has agreed to pay € 480 million (US 615 million) for an 80.7% stake in Alpine Mayreder Bau, Austria's second-largest contractor. Alpine expects revenues of € 2.01 billion (US$ 2.58 billion) in 2006 and Earnings Before Interest, Tax and Amortisation (EBITA) of € 115 million (US$ 147 million). Its order backlog is expected to total € 2.8 billion (US$ 3.6 billion) by the time the deal is complete.