BPV Huegel has advised Strabag SE on its acquisition, together with Porr AG, of the technical operations management and construction projects divisions of the Vienna General Hospital, including the Austrian project development business and thermal spa holdings in Austria, from the Vamed group. KPMG Law reportedly advised Porr AG. Latham & Watkins reportedly advised Vamed AG and its majority owner, Germany's Fresenius.
The acquisition involved a joint holding company of Strabag and Porr and a total purchase price of about EUR 90 million. Each partner will hold half of the joint holding company. The deal remains contingent on regulatory approval.
Strabag SE is a European-based technology group for construction services with around 86,000 employees generating an annual output volume of around EUR 19 billion. According to BPV Huegel, "the transaction expands Strabag’s service portfolio in technical facility management to include the medical sector while enhancing its expertise in project development in the healthcare sector."
Porr is a construction group listed on the Vienna Stock Exchange with its headquarters in Vienna.
A few days earlier in a separate transaction, PAI Partners purchased Vamed Group's rehabilitation business – operating 67 clinics and care centers across Germany, Austria, Switzerland, the Czech Republic, and the UK – from Fresenius (as reported by CEE Legal Matters on May 9, 2024).
The BPV Huegel team was led by Co-Managing Partner Christoph Nauer and Partner Thomas Lettau and included Partners Astrid Ablasser-Neuhuber, Gerhard Fussenegger, Nicolas Wolski, Florian Plattner, and Wolfgang Berger, Attorneys at Law Roland Juill and Paul Pfeifenberger, and Associates Lucas Hora, Anna Zirkler, and Barbara Valente.
