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Hochtief receives offers for real estate unit Aurelis - sources
January 17, 2014 / 3:16 PM / in 4 years

Hochtief receives offers for real estate unit Aurelis - sources

FRANKFURT, Jan 17 (Reuters) - Hochtief, the German builder controlled by Spanish group ACS, has received bids for its real estate unit Aurelis in a potential 1 billion euro ($1.4 billion) deal, three people familiar with the matter told Reuters.

Several private equity groups have handed in binding offers for the former Deutsche Bahn real estate unit that Hochtief bought in 2007 for 1.6 billion euros.

Brookfield, Morgan Stanley Real Estate Investing (MSREI) and Patron Capital have looked at Aurelis, but it remained unclear whether the investors are among the final bidders.

The sale is part of an overhaul meant to help Hochtief cut its debt while it focuses on an ambition to become one of the biggest global infrastructure providers.

Hochtief, the investment banks, MSREI, Brookfield and Patron declined to comment, while Grove was not immediately available for comment.

$1 = 0.7352 euros Reporting by Arno Schuetze and Matthias Inverardi; Editing by Victoria Bryan

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