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| Bilfinger Berger sells shares in Razel Bilfinger Berger, Germany's second largest builder, on October 20, 2008, has sold all of the shares in Razel S.A., its wholly-owned French civil engineering subsidiary, to Fayat S.A., France. The sale will generate proceeds of €137 million, resulting in a book gain for Bilfinger Berger of €90 million. Bilfinger Berger also intends to establish a risk provision to reflect the general volatility in the construction business. Overall, Bilfinger Berger expects net profit for 2008 to increase beyond the previously forecast €140 million to about €185 million. write your comments about the article :: © 2008 Construction News :: home page |