Steiner AG divests its construction subsidiary
Steiner Construction SA was taken over by the French construction company Demathieu Bard.
Steiner AG has sold its subsidiary Steiner Construction SA to Demathieu Bard, an international construction group headquartered in France. According to the company, this transaction accelerates Steiner AG's transition to a pure real estate developer and paves the way for long-term growth in this area.
The development portfolio will be "further expanded with an ambitious growth plan", Steiner announced. Together with an extended circle of strategic and financial partners, the capital will be invested in a new and broader network of business opportunities.
Stéphane Monceaux, CEO of the Demathieu Bard Group, describes the takeover of Steiner Construction as an important milestone in the company's history. It is Demathieu Bard's largest acquisition to date. Following the takeover, the group will have almost 4,000 employees and a turnover of around EUR 2.1 billion (CHF 1.99 billion). (ah)
