Mota-Engil has reached an agreement with Hungarian company Duna Aszfalt for the sale of Mota-Engil Central Europe (MECE) and its subsidiaries. MECE is an active player in the construction industry and real estate development market in Poland.
Mota-Engil Central Europe is one of the largest Polish construction companies, specializing in the construction of buildings, railway facilities, electricity-related works, road maintenance and real estate development, based on 60 years of Polish traditions of road and bridge construction. The company's achievements in Central Europe include the construction of hundreds of kilometres of Polish highways and expressways, residential parks, public buildings, railways and other transport stations.
The completion of the transaction, subject to obtaining various authorizations from local authorities and financial institutions, is expected to take place by the end of the first half of 2024. The transaction will be made for an enterprise value of around €90 million.
With this divestment, Mota-Engil aims to reinforce its strategy in the allocation of its investments in its core markets, thereby increasing the focus of its core business in higher growth countries, as well as strengthening the balance sheet.
In recent years, numerous Hungarian companies have acquired interests in the Polish real estate market, such as Indoktek, Futureal, Adventum, GTC and B+N Referencia, among others.
