NCC AB (NCCB), the Nordic region’s biggest construction company, is awaiting more information from Bilfinger SE (GBF) on its planned sale of a civil-engineering business after making inquiring after the assets.
“We have asked them what their plans are,” NCC Chief Executive Officer Peter Wagstrom said in an interview in Visby, Sweden. “Their only answer was that they will give more information after the summer.”
Bilfinger, which competes with NCC in the Scandinavian market for large infrastructure projects, announced in early May that it would divest significant parts of its civil engineering business.
The German company is moving out of construction to focus on services and facilities management businesses. The building operation, which generated about 800 million euros in revenue last year, helped build the City Tunnel in Malmoe and is one of six contractors, along with NCC, working on the Citybanan project in Stockholm, a double-track railway in a six-kilometer (4-mile) long tunnel under the capital.
Wagstrom said his company looks at all opportunities for acquisitions to see what may be interesting to NCC.
“It is very hard to buy construction companies, so if we do anything, we’re cautious. But of course we keep track of what happens,” Wagstrom said.
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