Strabag SE and PORR AG agreed to acquire Austrian spa holdings, VAMED?s Austrian project development business and technical operations management and construction projects divisions of Vienna General Hospital from VAMED AG for ?90 million.

Strabag SE (WBAG:STR) and PORR AG (WBAG:POS) agreed to acquire Austrian spa holdings, VAMED?s Austrian project development business and technical operations management and construction projects divisions of Vienna General Hospital from VAMED AG for ?90 million on May 7, 2024. STRABAG SE still requires approval from its Supervisory Board in order to finalise the transaction. The transaction is also subject to regulatory approval, including approval by the relevant competition authorities.

Meera Ramakrishnan, Christoph Nauer, and Thomas Lettau of bpv Hügel Rechtsanwälte OG acted as legal advisor and PWC Corporate Finance Beratung Gmbh acted as financial advisor to Strabag SE. BDO Austria GmbH, Investment Banking Arm acted as financial advisor and KPMG Law Austria acted as legal advisor to PORR AG. Latham & Watkins LLP acted as legal advisor to VAMED AG on the transaction.

Stephan Hutter and Holger Hofmeister of Skadden, Arps, Slate, Meagher & Flom LLP represented the management and supervisory boards of Fresenius SE & Co. KGaA. Sascha Hödl, Marco Thorbauer of Schönherr Rechtsanwälte Gmbh acted as legal advisor to VAMED AG and Fresenius SE & Co.