Dutch Heijmans sets Holzmann deadline

Dutch construction firm Heijmans NV said on Friday it had set Philipp Holzmann AG a June 24 deadline to accept its offer for parts of the insolvent German firmÂ's operations with 1,000 jobs hanging on a deal.

The Dutch company said it had made a final but undisclosed offer to buy parts of Holzmann with an annual turnover of around 325 million euros. It expected Holzmann to respond to its offer by noon (1000 GMT) on Monday.

Heijmans said it expected the German firm to accept its offer after 'tough' talks but said it was possible the deal could still collapse.

The units it wants to buy employ around 900 workers in Germany and 100 in the Netherlands.

'We have said this is our final offer. This is it. It is a good offer and we rely on them accepting it,' Heijmans spokesman Fons Van Lith said. The two companies have been in talks for more than two months.

Holzmann filed for insolvency in March, becoming one of GermanyÂ's biggest corporate collapses, on the back of its real estate losses, coupled with tough conditions in the overcrowded German market.

(source: Reuters)

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