Vossloh confirms sale of Infrastructure Services
EUROPE: On June 30 Vossloh Group announced its acceptance of a €150m bid for its Vossloh Infrastructure Services business unit from Vinci Group company Eurovia.
Acquired as part of the Cogifer Group in 2002, Vossloh Infrastructure Services undertakes track and electrification construction and maintenance. It has a workforce of around 1 500, and recorded sales of €210m in 2007, with most work being in France and Luxembourg.
The price for a 100% equity stake in the business unit and its subsidiaries reflects an enterprise value of around €185m. The transaction is subject to regulatory clearance.