Hindustan Construction Company’s material subsidiary -- Steiner AG, Switzerland has divested its entire equity interest in Steiner Construction SA, Switzerland, a step-down material subsidiary of the Company on January 18, 2024 pursuant to Share Purchase Agreement entered in to with Demathieu Bard, a Company headquartered in France.
This strategic transaction accelerates Steiner AG's transition to a pure real estate development company, paving the way for long-term growth in this field. Steiner AG will look to expand its portfolio of developments with a more ambitious growth plan, with capital being deployed into newer and wider net of opportunities, along with a broader set of strategic and financial partners.
Hindustan Construction Company is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.
