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Tue March 02 2021

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Hochtief sells property management company

21 Jul 14 Hochtief has concluded the sale of its property management and asset services businesses to Vincitag.

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.  

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