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| FCC acquires Austrian company Alpine Spanish construction giant FCC will pay 480 million euro to acquire up to 80.7% of Austria's second-largest construction and services group. This is FCC's third investment in Central and Eastern Europe following the recent acquisitions in Austria (ASA) and the Czech Republic (SmVAK). FCC has acquired 74.76% of Alpine Mayreder Bau, Austria's second-largest construction and services group, which has been controlled to date by the Pappas family. The acquisition of another 5.94% held by Erste Bank is expected to be completed in the next few weeks. The enterprise value of 100% of Alpine is 725 million euro (including 130 million euro of net debt). With an estimated 2.013 billion euro in revenues in 2006 and projected EBITDA of 115 million euro, Alpine operates directly and through subsidiaries in Austria, Germany and Eastern Europe. In construction, Alpine is a leading specialist in underground work, including the new Saint Gotthard tunnel through the Alps (over 50 km. long) and the extension of Singapore Metro. Alpine also built the Allianz Arena in Munich, a site of the recent World Cup. write your comments about the article :: © 2006 Construction News :: home page |