The divestment is set to be completed by the end of the year. Credit: PeopleImages.com – Yuri A via Shutterstock.

India-based Hindustan Construction Company’s (HCC) material subsidiary Steinier AG has signed an agreement with French company Demathieu Bard to sell its entire stake in Steiner Construction SA for approximately Rs9280m.

Steiner Construction (Switzerland) is a step-down material subsidiary of Steiner AG.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The transaction will be finalised by the end of the year.

Steiner Construction will no longer be a subsidiary of Steiner AG upon the conclusion of the acquisition.

HCC’s shares gained 6% on the National Stock Exchange (NSE) on 5 December, a day after the announcement of the deal, Indian news agency Moneycontrol reported.

HCC acquired a 66% stake in Karl Steiner in March 2010.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Demathieu is a major real estate and construction enterprise that works on road construction, building engineering, energy distribution, transportation facilitation, and living space development.

In March this year, a joint venture (JV) of HCC and Megha Engineering & Infrastructures received an order from the National High-Speed Rail Corporation of India.

Under the contract, the JV agreed to construct the Bandra Kurla Complex station in Mumbai, India.

The bullet train station, which forms part of the 508.17km Mumbai-Ahmedabad high-speed rail project, will feature six 414m-long platforms, which can each accommodate a 16-coach bullet train.