German firm Bilfinger divest from Julius Berger Nigeria

German engineering services firm will sell its 33.4 percent stake in Nigeria's construction firm Julius Berger before the end of June, the local unit said on Thursday.
The Nigerian construction firm said the proposed transaction will lead to the exit of Bilfinger's representative from its board but said this would not impact negatively its operations.
"The decision is based on Bilfinger's strategic realignment from a construction company to an engineering and services group in the last decade which saw Bilfinger SE divest totally from its construction activities," Julius Berger said in a statement.