DSI kicks off acquisitions with $40m deal
- From: Vol 10, Issue 12 (December 2009)
- Category: General
- Region: Europe
- Country: Germany
- Related Companies: Drake and Scull and Passavant Roediger
The acquisition of Passavant-Roediger will bring valuable references and technological know-how to the Dubai-based contractor. It is already looking for more targets.
Drake & Scull International is poised to expand its international water and wastewater presence after acquiring an 82% stake in German water and wastewater EPC contractor Passavant- Roediger from Bilfinger Berger.
The financing for the deal, valued at AED145 million ($39.5 million), features a 50:50 mix of equity and debt. Bilfinger Berger will retain the remaining 18%. The deal ...
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