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Bahrain buys out Hochtief’s stake in JV

Bahrain: Sunday, September 15 - 2013 @ 00:00

Bahrain Airport Co (BAC) has said it has bought the 50% stake of German firm Hochtief in their joint venture, making Hochtief Facility Management Bahrain Airport a wholly-owned subsidiary of BAC, Gulf Daily News has reported. The decision to acquire the stake comes after Hochtief Services Solutions was put for sale internationally as a result of a restructuring plan. The share transfer agreement has been signed on Wednesday, and the name of the company has been changed to BAC Facility Management, BAC said.

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Sunday, September 15- 2013 @ 0:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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