2. News / Steiner AG completes sale of subsidiary Steiner Construction SA

Steiner AG completes sale of subsidiary Steiner Construction SA

A strategic move to expand development capabilities and geographic reach

(Zurich) (PPS) Steiner AG, a leading real estate development company based in Switzerland with a long track record of delivering exceptional projects, is pleased to announce the completion of the sale of its subsidiary Steiner Construction SA to Demathieu Bard, an international construction group headquartered in France.

This strategic transaction accelerates Steiner AG's transition to a pure-play real estate development company and paves the way for its long-term growth in this space.

Arjun Dhawan, Delegate of the Board of Directors and Vice-President of the listed owner of Steiner AG, HCC AG (INE HCC): "The development of Steiner AG into a pure development company is an expression of our enormous success as a leading Swiss real estate company over the last ten years. It is also a consequence of the opportunities we see for capital formation and future growth at home and abroad to maximize shareholder value. We would like to express our sincere thanks to everyone who has contributed to the success of Steiner Construction, especially our customers and dedicated employees."

Stéphane Monceaux, CEO of the Demathieu Bard Group: "The acquisition of Steiner Construction SA is an important milestone in the history of the Demathieu Bard Group. We are strengthening our international presence and consolidating our position as a reference company in the construction sector. With the integration of Steiner Construction SA, Demathieu Bard makes its largest acquisition to date. Our priority now is to ensure the success of the company by fostering synergies between our competencies and know-how. I would like to welcome Steiner Construction SA to the Demathieu Bard Group."

Steiner AG will continue to expand its development portfolio with an ambitious growth plan. The capital, together with an expanded circle of strategic and financial partners, will be invested in a new and broader network of business opportunities.

Company profile:

About Steiner AG
Steiner AG is a leading real estate service provider with a focus on project development. It was founded in 1915, is headquartered in Zurich and has offices in Basel, Bern, Lucerne, Tolochenaz and Geneva. With a development portfolio worth more than CHF 6 billion, Steiner AG is one of the largest real estate developers in Switzerland. The portfolio includes a wide range of residential, office, industrial and logistics projects as well as its own product innovations such as the Werkarena or Manufakt.
Steiner Construction is one of the market leaders in real estate construction and works according to the total and general contractor principle. Steiner AG is a wholly-owned subsidiary of the Indian infrastructure group Hindustan Construction Company (HCC Ltd).
For more information: steiner.ch

About Demathieu Bard  
Demathieu Bard is an independent company founded in Lorraine in 1861 and one of the leading French players in the construction and real estate sector. The group is known for its technical expertise and know-how, particularly in complex constructions and engineering structures in France and abroad. With 61 offices in France, Europe and North America, DEMATHIEU BARD operates in the infrastructure and civil engineering, building construction, prefabrication and real estate sectors. This wide range of services and its recognized expertise allow the company to support its customers in the execution of all projects, regardless of their complexity. Following this acquisition, the Demathieu Bard Group will have almost 4,000 employees and a turnover of approximately 2.1 billion euros.

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