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 Middle East and United States. Matti Jaekel, 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 furr 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 re is currently no apparent interest from strategic bidders in acquiring company. He also highlighted that prospect of a takeover by financial investors has been significantly diminished due to Bilfinger's strong share price performance, making such endeavours more challenging.

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

With Reuters Inputs