M&A Deal Summary

HOCHTIEF Offshore Development Solutions S.à r.l. Acquires Turner Construction

On August 17, 1999, HOCHTIEF Offshore Development Solutions S.à r.l. acquired construction company Turner Construction for 263M USD

Acquisition Highlights
  • This is HOCHTIEF Offshore Development Solutions S.à r.l.’s 1st transaction in the Construction sector.
  • This is HOCHTIEF Offshore Development Solutions S.à r.l.’s largest (disclosed) transaction.
  • This is HOCHTIEF Offshore Development Solutions S.à r.l.’s 1st transaction in the United States.
  • This is HOCHTIEF Offshore Development Solutions S.à r.l.’s 1st transaction in New York.

M&A Deal Summary

Date 1999-08-17
Target Turner Construction
Sector Construction
Buyer(s) HOCHTIEF Offshore Development Solutions S.à r.l.
Deal Type Add-on Acquisition
Deal Value 263M USD

Target

Turner Construction

New York, New York, United States
Turner Construction Co. is a provider of construction services.

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Buyer(S) 1

Buyer
DESCRIPTION

HOCHTIEF Offshore Development Solutions S.à.r.l. (“HTODS”) for the development of offshore wind farms. The two partners each hold a 50 percent interest in the company. The joint venture focuses on the acquisition and development of wind farm concessions as well as capitalization on the resulting value growth by selling the wind park concessions before construction begins.


DEAL STATS #
Overall 1 of 1
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (1999) 1 of 1
Size (of disclosed) 1 of 1