Hochtief may sell offshore unit - report

Nov 11, 2013 - German builder Hochtief (ETR:HOT) has put its offshore wind power business up for sale, weekly magazine Wirtschaftswoche reported.

A spokesman for the company told Dpa news agency no decision had been made yet on a sale.

Hochtief's offshore wind power unit has about 500 employees and generates annual revenue of about 300 million (USD 402m).

The spokesman said Hochtief would wait for information about the new energy policy of the new government before deciding on what to do with the unit.

Hochtief's workforce in Germany could drop to about 3,000 from 10,000 at end-2012 if the company offloads all businesses currently up for sale, Witschaftswoche reported. The spokesman dismissed this claim as well.

(EUR 1 = USD 1.339)

Choose your newsletter by Renewables Now. Join for free!