Hochtief denies report Macquarie set for takeover before breaking up business |
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Mon, 29 Jan 2007 11:17
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FRANKFURT (AFX) - Hochtief denied a media report that companies from the US, Canada and Australia are behind an attempt by Australian bank Macquarie to takeover the German construction company.Earlier, German business weekly WirtschaftsWoche cited unnamed supervisory board sources as saying that several companies want to join together with Macquarie Bank PLC to acquire Hochtief AG in order to break up the firm.The magazine added that it is now 'quite certain' that Macquarie will acquire Hochtief, citing unnamed Hochtief sources and that as a first step, the Australian bank will acquire August von Finck's 25.01 pct stake in the company.But a spokesman for Hochtief told AFX News that 'these facts are wrong and readers need to decide on the validity of the article'.Wirtschaftwoche reported that Bechtel Corp wants to acquire the part of Hochtief's Turner US operations, which specialize in structural engineering.The report also said that Toll Brothers would acquire Turner's health care construction operations and that Bucyrus wants to acquire the part of Hochtief's Australian-based Leighton business, which is focused on mining services.The Hochtief spokesman responded to these assertions by pointing out that Bechtel Corp is not in the structural engineering business and questioned it's interest in Turner.Furthermore, he said that the information on Toll Brothers interest was unfounded as Turner did not own health care real estate, and since Toll Brothers focuses on operating real estate, he did not see why it would be interested.patrizia.kokot@thomson.compk/amk/jrCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Hochtief may be be faced with break up - report 