Strabag has completed the acquisition of German-based Ed Züblin in a deal worth €210.3 million.
The Austrian-based construction company – which initially acquired its stake in Züblin in 2005 – now holds 100% of its shares.
Strabag’s subsidiary, Ilbau Liegenschaftsverwaltung, holds 94.9%, while the remaining shares have been acquired by a core shareholder of Strabag.
Strabag initially acquired its stake in Ed Züblin in 2005, following the insolvency of the then-owner Walter Bau, increasing its holdings through subsequent smaller purchases. Until now, Strabag held 57.26% of Ed Züblin’s shares.
Thomas Birtel, CEO of Strabag, said, “The full merger will allow an even closer partnership, facilitating the coordination of our corporate strategy and making cooperation easier within the group.