Key Developments: Hochtief AG (HOTG.DE)

HOTG.DE on Xetra

17 Apr 2014
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€1.35 (+2.10%)
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Latest Key Developments (Source: Significant Developments)

Leighton Holdings Ltd announces improved HOCHTIEF AG offer
Wednesday, 12 Mar 2014 07:01pm EDT 

Leighton Holdings Ltd and HOCHTIEF AG:Enters into bid implementation agreement, under which HOCHTIEF has increased its offer to Leighton shareholders to $22.50 per share for three out of eight shares (the improved offer).This compares with HOCHTIEF offer of March 10, of $22.15 per share for three out of eight shares.Shareholders on the register on March 21, will also be entitled to receive the dividend of $0.60 per share, to be paid on April 4.During the negotiations, the independent directors pressed HOCHTIEF to make takeover offer for all shares (rather than a proportional offer), however HOCHTIEF has declined to do so.Improved offer is unconditional, other than requirement for FIRB approval.Say that employment of Leighton's chief executive officer Hamish Tyrwhitt and deputy chief executive officer and chief financial officer Peter Gregg has been terminated and they have both resigned from the board, effective immediately.Robert Humphris OAM will remain as independent chairman with a casting vote under the Leighton constitution.Marcelino Fernandez Verdes, the current chief executive officer of HOCHTIEF AG, has been appointed as chief executive officer of Leighton, on terms and conditions to be determined by Leighton board.  Full Article

HOCHTIEF AG announces intention to make proportional offer for shares of Leighton Holdings Ltd
Sunday, 9 Mar 2014 07:37pm EDT 

HOCHTIEF AG:Says, through its wholly owned subsidiary HOCHTIEF Australia Holding Limited, that it intends to make a conditional, proportional off-market offer to acquire three out of every eight shares held by Leighton Holdings Ltd shareholders (other than HOCHTIEF) for $22.15 cash per share.Leighton Holdings shareholders who are on the Leighton registers on March 21, and who accept the offer will therefore receive $22.15 per share in respect of 37.5 pct. of their Leighton shares.If all Leighton shareholders accepts the offer, HOCHTIEFwill increase its stake in Leighton from 58.77 pct. to a maximum of 74.23 pct. for a total cash consideration of about $1.155 billion.HOCHTIEF announced that it intends to increase its representation on the Leighton Board to reflect its majority interest in Leighton.  Full Article

Hochtief AG issues FY 2014 net profit outlook in line with analysts' estimates and proposes FY 2013 dividend
Wednesday, 26 Feb 2014 07:00pm EST 

Hochtief AG:Recommends a dividend of 1.50 euro per share for FY 2013, a 50 pct increase.Anticipates further progress in respect to operating consolidated net profit in range of 225-250 million euro in FY 2014.FY 2014 net income of 233.18 million euro - Thomson Reuters I/B/E/S.  Full Article

Hochtief AG Reaffirms FY 2013 Net Profit Guidance-Conference Call
Wednesday, 14 Aug 2013 05:00am EDT 

Hochtief AG announced that prior to the impact from divestments and restructuring, the Company is maintaining a net profit range of EUR210 million to EUR250 million for fiscal 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report net income of EUR23 million for fiscal 2013.  Full Article

Hochtief AG Raises Leighton Holdings Ltd Stake To Expand In Asia-Reuters
Sunday, 30 Jun 2013 06:04pm EDT 

Reuters reported that Hochtief AG the German unit of Spanish construction company has increased its stake in Leighton Holdings Ltd taking advantage of a share price slump to raise its exposure to fast-growing Asian markets. The German builder boosted its stake in the Australian company by 1.6 % to about 55 % and plans to increase it further, depending on market conditions. Hochtief paid at least AUD69 million ($64 million) for the stake, based on the June 21 intraday low of A$14.40, the stock's lowest price in more than two years.  Full Article

Hochtief AG Launches Share Buyback Program
Thursday, 13 Jun 2013 03:38pm EDT 

Hochtief AG announced that it has decided to start a share buyback program. Up to 4,313,000 no-par value shares in HOCHTIEF AG (approximately 5.6% of the Company's share capital) for a total purchase price (not including incidental acquisition costs) of up to EUR 260,000,000 shall be bought back by HOCHTIEF AG. The purchase of the shares shall be conducted via the stock exchange. The shares that are bought back may be used for any purpose set forth in the authorization resolution of the Annual General Meeting of May 7, 2013. The share buyback program is based on the authorization of the Annual General Meeting of May 7, 2013, to launch a share buyback program for shares in the amount of up to 10% of the Company's share capital until May 6, 2018. The purchase price per share (not including incidental acquisition costs) may not be more than 10% above or below the arithmetic mean of the prices of no-par value shares of HOCHTIEF AG in the closing auction in XETRA trading (or an equivalent successor system) on the Frankfurt Stock Exchange during the last ten stock market trading days preceding the conclusion of the obligating transaction.  Full Article

Hochtief AG Sells Its Airports Unit-Reuters
Tuesday, 7 May 2013 05:54am EDT 

Reuters reported that Hochtief AG announced that it has sold its airports unit to Canada's Public Sector Pension Investment Board for EUR 1.1 billion (USD 1.4 billion), to help fund a shift towards ground transportation and energy infrastructure. The division has holdings in airports in Budapest, Duesseldorf, Hamburg, Sydney and Tirana. It also sold Athens Airport as part of the transaction.  Full Article

Hochtief AG Gets Bids For Airport Unit-Reuters
Monday, 15 Apr 2013 09:27am EDT 

Reuters reported that Hochtief AG, controlled by Spain's Acs Actividades de Construccion y Servicios SA (ACS), has received bids for its airport unit. Hochtief, which halted the sale of its six airport stakes early last year when it was unable to fetch a price of EUR1.5 billion ($2 billion), is trying again to sell its stakes in airports in Duesseldorf, Hamburg, Budapest, Sydney and Tirana. It has for now given up on looking for a buyer for Athens airport. A source representing a potential buyer of the assets has said Hochtief could now fetch as much as EUR1.2 billion in the sale, which Deutsche Bank is organising. Fraport Frankfurt Airport Services Worldwide AG, the operator of Frankfurt airport, Global Infrastructure Partners Ltd (GIP), which owns London's City and Gatwick airports, Canada's Brookfield Asset Management Inc, and insurer Allianz SE have all put in offers.  Full Article

Hochtief AG To Sell Half Of European Business-Reuters
Thursday, 28 Feb 2013 01:45am EST 

Reuters reported that Hochtief AG may sell about half of its European businesses to focus on its ambition. Hochtief said it would sell its service businesses, which have more than 5,500 employees, and was considering strategic options for two project development units.  Full Article

Hochtief AG Receives EUR558 Million Order In Asia Pacific-DJ
Friday, 8 Feb 2013 07:42am EST 

Dow Jones reported that Hochtief AG said that the Company received infrastructure contracts worth EUR558 million ($727 million) in the Asia-Pacific region through its subsidiary Leighton Holdings Ltd.  Full Article


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