The sale is in line with Hochtief's strategy of concentrating on the core business of construction and divesting non-core assets. The transaction follows the sale earlier this year of the stake in real estate company Aurelis.
Vincitag is a medium-sized group of companies with currently turnover of about €100m and approximately 900 employees. The company already operates in the area of technical building equipment and facilitues management.
With the transaction, somewhat more than 500 employees will change employers.