Regulatory approval has been given for the purchase of Bilfinger Infrastructure by Austrian contractor Porr.
The deal has now been closed with Porr having signed a contract with Bilfinger SE to buy its Polish subsidiary in June.
As a result of the clearance by antitrust authorities, Bilfinger Infrastructure SA becomes a part of Porr with immediate effect, and will operate as an independent subsidiary in Poland under the name Porr Polska Infrastructure SA.
Porr said there would be no change to the firm’s focus, which is on road and bridge construction, civil engineering and power plant construction.
Karl-Heinz Strauss, CEO of Porr, said, “The takeover of Bilfinger Infrastructure in Poland and Norway marks the achievement of a new milestone for Porr – the knowhow and market presence of our new colleagues in Poland is the ideal complement to the top building construction and railway engineering expertise of our Porr Polska team.
“What’s more, it opens up an exceptionally interesting new market for us through three existing bridge construction projects in Norway.”
Bilfinger Infrastructure generated production output of €166 million in 2014 with nearly 800 employees – of which around 100 are in Norway. The purchase price amounted to €21.5 million.