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| Hochtief completes sale of airport business Hochtief Aktiengesellschaft, Essen, has completed the sale of its airport business to a subsidiary of the Public Sector Pension Investment Board of Canada (PSP Investments). All of the shares in Hochtief AirPort GmbH, Essen, have been transferred with economic effect as of January 1, 2013. The total cash inflow from the transaction is approximately EUR 1.1 billion, of which EUR 308 million had already been received for the transfer of the shares in Sydney Airport to PSP Investments in August. The transaction involves the deconsolidation of assets totaling around EUR 1.5 billion, including minority interests of around EUR 0.4 billion. write your comments about the article :: © 2013 Construction News :: home page |