Imtech has announced the successful completion of the €255 million sale of the Imtech ICT division to VINCI Energies.
Imtech described the sale as an important part of its debt reduction programme.
The firm said the immediate €188 million cash proceeds from the sale will be used for enhancement of the liquidity position and for the debt reduction programme. The difference between the enterprise value and immediate cash proceeds relate to a €26 million guarantee deposit, customary finance adjustments and transaction costs.
In 2013, the revenue of the ICT division amounted to €740 million and 2,380 staff were employed.
Imtech said the sale of the ICT division would not have an impact on its value proposition for customers and that automation expertise and know-how , including building automation, infrastructure automation, telecommunication, industrial automation and technical automation are an integral part of the value proposition of the other Imtech divisions.
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