STRABAG SE acquires Deutsche Telekom facility management subsidiary
23 July 2008
- DeTeImmobilien becomes part of STRABAG Group
- In 2007, DeTeImmobilien employed 6,240 employees and generated about € 1 billion
- STRABAG pursues strategy of expanding its competencies in construction-related services
Deutsche Telekom and Austria’s STRABAG SE today concluded an agreement covering the sale of Frankfurt-based Deutsche Telekom Immobilien und Service GmbH (DeTeImmobilien), a 100% subsidiary of Deutsche Telekom. According to the agreement, DeTeImmobilien will be sold by Deutsche Telekom effective 1 October 2008 and operations will be continued by the STRABAG Group.
DeTeImmobilien employs some 6,240 persons – approximately 5,600 in Germany – and provides comprehensive services in the field of facility management. In the 2007 financial year, the company generated revenues of roughly € 1 billion. Deutsche Telekom is its largest customer.
In addition to the contract for the sale of DeTeImmobilien, STRABAG SE and Deutsche Telekom also signed an extensive service agreement based on market and industry benchmarks for a period of initially ten years. The agreement assures that DeTeImmobilien will continue to provide to Deutsche Telekom the facility management services it needs.
Extensive agreements were made to guarantee the employment relationship with DeTeImmobilien employees.
The parties to the agreement have agreed not to disclose financial details concerning the transaction.
Dr. Hans Peter Haselsteiner, CEO of STRABAG SE, is pleased with the new acquisition: “With the acquisition of DeTeImmobilien, we are pursuing our strategy of extending the competencies in the area of construction-related services. The construction business fluctuates over the course of the year and with the economic cycle. Facility management, with its characteristically longer-term contracts, helps to smooth out seasonal and cyclical fluctuations.”
“Until now, STRABAG has been the number one in Germany only in construction. As of today, we also play a leading role in facility management. We will use DeTeImmobilien’s know-how to achieve a leading European position in this segment as well.”
