Julius Berger Nigeria Plc has concluded arrangement to purchase a majority stake of Julius Berger International GmbH (JBI) in Wiesbaden, Germany.
Announcing this development in a statement in Abuja, Mr. Clement Iloba, the Public Affiars Manager of JBN, said, “this week an agreement between the vendor Bilfinger Berger SE and JBN was signed, to acquire 90 per cent of the shareholding of JBI. The acquisition is split into two tranches, 60 per cent end of June 2012 and 30 per cent end of December 2012.”
He said, “JBI brings together the engineering and services activities of Bilfinger Berger Nigeria GmbH. By purchasing a majority share of JBI, JBN is assured key-support in planning, procurement and capacity building.
“The Board of Directors and the Executive Management of JBN reiterate their confidence that these strategic business directions would achieve a sustainable increase in JBN’s efficiency and responsiveness, as well as set the basis for a future of long lasting success.
Julius Berger Synopsis “Julius Berger Nigeria Plc is a Nigerian construction company headquartered in Abuja FCT An employer of no fewer than 18,000 people of close to 40 nationalities, it is a multi-service, solutions-driven company is unique in its long standing delivery of quality, capacity, reliability and excellent performance, all at internationally recognized standards.
“Since its 46 years of operation in Nigeria, integrity, transparency, safety and sustainability continue to be the pillars of JB’s structures and behaviors, both internally and externally. Julius Berger is the leader in its field, a pioneer in technology and a committed partner in the development and progress of Nigeria.”