Hochtief

Hochtief AG is a German construction company based in Essen, North Rhine-Westphalia, Germany. Hochtief is Germany's largest construction company and operates globally, ranking as one of the largest general construction companies in the United States through its Turner subsidiary, and in Australia through a 90% shareholding in CIMIC Group. In 2010 it employed more than 70,000 employees across five corporate divisions. One of these, Hochtief Concessions, is a major airport operator. The others are involved with construction project planning, finance, construction and operation. Work done in 2010 was €23.23 billion, with more than 80% coming from operations outside Germany.

The company's history dates back to 1874 and includes engineering feats such as the transplantation of the Abu Simbel rock temples in Egypt (saving them from the rise of the River Nile caused by the Aswan High Dam), and infrastructure projects like the new Athens International Airport and Germany's first nuclear power plant. It is also noted for its involvement with the Bauhaus movement, particularly for its work at Zollverein colliery and the reconstruction of the Kandinsky-Klee house in Dessau; both World Heritage Sites. During World War II it deployed forced labor on construction projects. It built the Führerbunker in Berlin, the scene of Adolf Hitler's suicide, as well as Hitler's home in Berghof and the Wolfsschanze headquarters. More recent constructions have included Bosphorus Bridge (Turkey), King Abdulaziz International Airport (Saudi Arabia), and the Messeturm and Commerzbank Tower in Frankfurt.

In late 2010, Spanish construction company ACS Group, which already owned a 30 percent stake of Hochtief, launched a bid that would allow ACS to acquire an additional 20 percent stake of Hochtief. The bid was approved by the German Federal Financial Supervisory Authority (BaFin) on 29 November 2010. ACS increased its stake in Hochtief to 50.16 percent in June 2011, effectively taking over control of Hochtief.