The group has sold 10% of the shares in the company, which is listed on the Lagos stock exchange, to the Nigerian Nestoil Group. This reduces Bilfinger Berger鈥檚 investment from 49.9% to 39.9%. The sale is to take effect this quarter and will lead to net proceeds for Bilfinger Berger of some 鈧20m (拢16.6m). The stake in JBN will be gradually reduced further.
鈥淲ith the Nestoil Group we have found a reputable buyer that is seeking to enter into a long-term investment and cooperate with JBN at an operational level,鈥 said Bilfinger Berger executive board chairman Roland Koch. 鈥淲e are happy that we have been able to put this equity stake in good hands.鈥
Bilfinger Berger made the strategic decision last year to reduce its involvement in Nigeria. Within the scope of this decision, Bilfinger Berger also intends to sell the engineering and services activities of Bilfinger Berger Nigeria GmbH, Wiesbaden, to JBN.聽
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