Hochtief wants to completely take over Australia's CIMIC -CEO

BERLIN - German construction group Hochtief wants to completely take over its Australian subsidiary CIMIC Group Ltd, Chief Executive Marcelino Fernandez Verdes said on Wednesday.

Hochtief Australia acquired 96.13% of CIMIC as of April 22, entitling the company to compulsory acquisition of all shares in CIMIC, which should now be bought as soon as possible, said the CEO according to the text of his Annual General Meeting speech.