HOCHTIEF has acquired the 50% stake remaining in the SPV for the Herrentunnel Lübeck toll road project in northern Germany from Bilfinger SE. Therefore the company has now assumed full operational control of the public-private partnership PPP project, in other words has the 100% concession shareholding.

The new share structure does not change anything related with the concession nature. The same operation and service level will continue to be provided by the existing personnel, most of whom have been employed with the company for many years.

The Herrentunnel is just under one kilometer long and is one of Germany's first toll roads. The SPV planned, financed and built the tunnel and has been operating it since it was opened to traffic in 2005. The tunnel beneath the Trave River  provides for intersection-free road and ship traffic in the Hanseatic City of Lübeck. And therefore replaces a dilapidated bascule bridge which had previously caused significantly delays to traffic.

For the medium term, HOCHTIEF has not ruled out the involvement of a financial investor who is interested in a permanent commitment. The transaction will take effect, pending of some approvals, the coming weeks.