Bilfinger Eyes Expansion Through M&A in Middle East and U.S., Says Finance Chief

Bilfinger expansion: German industrial services provider Bilfinger is eyeing expansion through mergers and acquisitions, with a keen focus on the Middle East and the United States. Matti Jaekel, the company's finance chief, revealed to Boersen-Zeitung that Bilfinger boasts substantial financial firepower, amounting to several hundred million euros, for potential takeover endeavours. Jaekel further noted that banks are poised to provide support for such strategic moves.

Despite Bilfinger's market valuation standing at an impressive 1.6 billion euros ($1.7 billion), Jaekel stated that there is currently no apparent interest from strategic bidders in acquiring the company. He also highlighted that the prospect of a takeover by financial investors has been significantly diminished due to Bilfinger's strong share price performance, making such endeavours more challenging.

The company had been the subject of takeover speculation in both 2020 and 2021, with French industrial services group Altrad being cited as a potential suitor during that period. However, no concrete deal emerged from these speculations.

With Reuters Inputs