Cevian Capital Becomes Largest Single Shareholder of Bilfinger Berger SE
STOCKHOLM and ZURICH, October 31, 2011 /PRNewswire/ --
- Cevian becomes largest single shareholder owning 12.6 percent of the
share capital - Cevian supports company's strategy
European investment firm Cevian Capital announces holding 12.6 percent of the share capital of Bilfinger Berger SE, a leading international engineering-driven services group for industrial facilities, power plants and buildings. Consequently, Cevian becomes the largest single shareholder of Bilfinger Berger. Cevian currently does not exclude increasing its stake, but does not intend to take over the company.
Cevian convinced of the company's further potential
Cevian uses a long-term, industrially-oriented investment approach by taking significant minority positions in a few selected European public companies at a time. As part of this strategy, Cevian actively engages in their development. Cevian supports Bilfinger Berger's continuing and successful transition from a construction company towards a leading engineering-driven services group in the last decade. According to Cevian, Bilfinger Berger's current share price undervalues the company's strong fundamentals.
The purchase of the 12.6 percent stake is solely financed by equity. Cevian principally works without leverage and does not hedge its investments.
Jens Tischendorf, Partner and responsible for the German business of Cevian, explained: "We have been impressed by the decisive and successful repositioning of Bilfinger Berger towards a leading engineering-driven service provider, and we support the path taken by the company."
About Cevian Capital
Cevian Capital is a European-based equity investor acquiring significant ownership positions in European public companies. As part of this strategy Cevian often becomes the anchor shareholder of a company. Pursuing an industrial investment approach, Cevian Capital focuses on enhancing the long-term value of a company through active ownership. Cevian Capital manages more than €3.5 billion for pension funds, endowments, foundations, sovereign wealth funds and other investors from Europe, North America and other regions. Cevian's investment team members are based in Zurich, Stockholm and London.
Media contacts:
Daniela Weber
Phone: +49(69)92-18-74-66
Mobile: +49(171)862-9942
E-Mail: dweber@heringschuppener.com
Brigitte v. Haacke
Phone: +49(69)92-18-74-62
Mobile: +49(171)863-0046
E-Mail: bvhaacke@heringschuppener.com
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