References

Ilbau Liegenschaftsverwaltung AG / STRABAG AG

As independent auditor, Baker Tilly on behalf of the Regional Court of Cologne has audited the adequacy of the cash compensation within the scope of the squeeze-out procedure of STRABAG AG, Cologne, (hereinafter also referred to as “STRABAG”) under the German Stock Corporation Act and the German Transformation Act.

On October 7, 2016, Ilbau Liegenschaftsverwaltung AG, Hoppegarten, (hereinafter also referred to as „Ilbau“) communicated to STRABAG its request for the company’s general meeting to resolve on a transfer of the remaining shareholders’ (minority shareholders) shares to Ilbau as principal shareholder against the granting of an adequate cash compensation.

At such date, Ilbau held a share of more than 90 % in STRABAG’s share capital and was therefore the company’s main shareholder pursuant to Art. 62 Sec. 5 sentence 1 UmwG (German Transformation Act) in connection with Art. 327a Sec. 1 sentence 1 AktG (German Stock Corporation Act). On March 24, 2017, STRABAG’s extraordinary general meeting approved the squeeze-out.

The sub-group of STRABAG AG, Cologne, is the market leader within the German sector of transport infrastructure. Besides transport infrastructure STRABAG’s construction services include earth work, railway construction, pipeline construction as well as the extraction and production of industry-specific construction materials. Through its equity interest of 35 % in the Bau Holding Beteiligungs AG, Spittal an der Drau/Austria, STRABAG is present in the Central and Eastern European markets as well as Scandinavia as an universal construction company.

In their capacity as auditor regarding STRABAG’s valuation, the team of Michael Wahlscheidt and Sylvia Fischer confirmed the adequacy of the cash compensation.

Quick Facts

Ilbau Liegenschaftsverwaltung AG

  • Wholly owned of STRABAG SE, Vienna/Austria

STRABAG AG

  • Market leader within the German sector of transport infrastructure
  • Output volume 2016: 2,298 million €
  • Total revenues 2016: 2,119 million €
  • Employees 2016: 11,365

Deal size

  • 1,191.5 million € (equity value)
  • Services
  • Audit of the cash compensation’s appropriateness within the scope of the squeeze-out

Team

  • Michael Wahlscheidt
  • Sylvia Fischer
  • Kerstin Struckmann