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Bilfinger Seals $282 Million Sale to Implenia to Exit Building

Bilfinger SE, once Germany’s second-biggest builder, agreed to sell its construction division to Switzerland’s Implenia AG in a 230 million-euro ($282 million) deal to exit the industry.

The two companies expect the sale of the unit, whose finished contracts totaled about 600 million euros in 2014, to be completed in the first quarter of 2015, they said in separate statements.