Bilfinger Pulls Out In Change of Strategy

CFW View: By relinquishing a 10% stake in its Nigerian subsidiary, Bilfinger Berger (Bilfinger) is slowly, yet determinately, pulling out of Nigeria - where it has been active since the 1960s. We believe the decision to divest the profitable Julius Berger Nigeria (Julius) has been prompted by political and economic risks - most notably, the concentrated violence in the Niger Delta, an increasing threat from Boko Haram and a consistently weak Nigerian naira.

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