Hochtief says plans IPO for concessions unit this yr

FRANKFURT, Nov 5 (Reuters) - German construction company Hochtief (HOTG.DE) said it plans to list its Hochtief Concessions AG unit on the Frankfurt stock exchange this year.

If "suitable capital market environment exists", the initial public offering will take place before the end of 2009, the company said late Wednesday.

The concessions unit would issue issue new shares and proceeds would be used to finance Hochtief Concessions's further growth.

Hochtief said it continues to regard "the concessions business as an integral element of the Group and intends to also continue to hold a majority share in the event of a stock market listing".

Hochtief Concessions has a portfolio of projects worth 1.5 billion euros ($2.21 billion) and includes six airport shareholdings, seven roads, 89 schools, a military base and two geothermal energy projects. ($1=.6782 Euro) (Reporting by Marilyn Gerlach; Editing by Lincoln Feast)