Strabag eyes strategic Implenia stake - News

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Strabag eyes strategic Implenia stake

By: AFX | 02 Nov 2009 | 02:32 AM ET

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VIENNA, Nov 2 (Reuters) - Austrian builder Strabag has expressed an interest in acquiring a strategic stake construction and building services group Implenia, the Swiss company said on Monday. The company also said in a statement that Swiss bank Credit Suisse had informed it that it is considering strategic options for the 50 percent stake in Implenia held by British private equity investor Laxey Partners. Implenia said in the statement it was ready to talk to Strabag about its interest, adding that it considered the group's independence as key for adding shareholder value. Implenia's market capitalisation was 526 million Swiss francs ($516.7 million) based on Friday's closing price of 28.50 francs, valuating the group at 12 times next year's estimated earnings according to Thomson Reuters I/B/E/S. ($1=1.018 Swiss Franc) (Reporting by Boris Groendahl; editing by Simon Jessop) Keywords: IMPLENIA/STRABAG (boris.groendahl@reuters.com; +43 1 53112-258; Reuters Messaging: boris.groendahl.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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