The shortlist of businesses in the running to buy Bilfinger’s property divisions has narrowed to two parties – EQT and ENGIE.
A decision as to whether the Swedish private equity firm or the French facilities management company is the preferred buyer is expected to be made towards the end of this month, ahead of Bilfinger’s annual general meeting on 11 May.
The other two parties previously on a list of four were JLL and private equity firm Triton Partners.
Although only two companies remain in the running to undertake an initial transaction, with Bilfinger aiming for a sale of all of its property divisions as one, a number of parties are interested in potential sub-trades of divisions, should the winning party be willing.
These parties include another French facilities management firm, Sodexo; CBRE and Lambert Smith Hampton owner Countrywide.
On 19 March Bilfinger said: “The executive board is reviewing the offers in the interest of the company without bias as to the outcome. The review has not yet been completed and will take another few weeks. A decision on a possible sale would have far-reaching consequences for the future positioning and strategy of the group. The review is therefore being conducted with tremendous care – the emphasis is on diligence over speed.”
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