February 3, 2014 / 8:18 AM / 4 years ago

Hochtief agrees sale of real estate firm Aurelis

FRANKFURT, Feb 3 (Reuters) - Hochtief, the German builder controlled by Spanish group ACS, said it agreed to sell its stake in property firm Aurelis and was looking at options for its remaining real estate business.

It said in a statement on Monday that it sold 43 percent of Aurelis to an investor consortium led by private equity firm Grove International Partners LLP, while the remaining 7 percent it held went to an independent investor.

It said the sale price was close to the book value as of end-November, without providing further details.

Sources had told Reuters last month that Hochtief has received bids for Aurelis and that any deal on the company could be worth 1 billion euros ($1.35 billion).

$1 = 0.7415 euros Reporting by Maria Sheahan; Editing by Christoph Steitz

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