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Global Infrastructure Solutions Inc. (GISI) has announced an all-cash transaction to acquire
Hill International, Inc. (NYSE:HIL) has entered into a merger agreement with Global Infrastructure Solutions Inc. (GISI). GISI will initiate an all-cash tender offer to acquire Hill for $2.85 per share, a 62.8% premium to Hill’s closing price on August 16, 2022. The total transaction values Hill at $173 million. Hill’s CEO stated that joining GISI will enhance client services and create more opportunities. The merger is expected to close in Q4 2022, pending shareholder approval and regulatory approvals. Upon completion, Hill shares will cease trading on NYSE.
Hill International reported a solid performance for Q2 2022, with net income improving to $1.4 million from a loss of $0.5 million last year. Adjusted EBITDA surged 70.9% to $6.5 million, while total revenue rose to $105.7 million from $101.5 million, driven by a 12.9% increase in Consulting Fee Revenue (CFR) to $87.7 million. The company reaffirmed its full-year 2022 guidance, expecting CFR of $340 million to $350 million and adjusted EBITDA of $22 million to $24 million.
Hill International (NYSE:HIL) has been awarded project management consultancy for two major developments in Abu Dhabi, UAE, by Aldar Properties. The projects include Phase 1 of The Grove Project, featuring over 440,000 SM of residential and commercial space, expected to complete by December 2024, and Phase 2 of Al-Reeman, anticipated for early 2026. Hill aims to leverage its expertise to enhance the living and shopping experience in the region, showcasing the return of construction activities in the Middle East post-pandemic.
Hill International (NYSE:HIL) has been chosen by Talaat Moustafa Group to provide project management and construction services for the new Four Seasons Hotel in Luxor, Egypt. This hotel will bolster the local tourism sector and is expected to be completed by March 2025. The development will span 21,400 square meters and feature around 200 rooms, restaurants, and fitness facilities. Hill's involvement reflects the company's commitment to supporting Egypt's tourism revival, which is rebounding post-pandemic, as highlighted by CEO Raouf Ghali.
Hill International (NYSE:HIL) has announced it will release its Q2 financial results for the period ending June 30, 2022, on August 9, 2022, after market close. CEO Raouf Ghali and CFO Todd Weintraub will host a conference call on August 10, 2022, at 9:00 AM EDT to discuss these results. Interested parties can join the call by dialing the provided numbers or access it via the Investor Relations section of the Hill International website. The company, recognized as one of the largest construction management firms in the U.S., operates with over 3,000 professionals globally.
Godspeed Capital Management has proposed to acquire Hill International, Inc. (HIL) for
The offer indicates a 56.78% premium over Hill's 52-week low of May 10, 2022. Godspeed believes this acquisition will enhance shareholder value, given Hill's struggles with profitability and liquidity.
Hill International (NYSE: HIL) announced that CEO Raouf Ghali and CFO Todd Weintraub will participate in the Sidoti Summer Small Cap Virtual Conference on June 15, 2022, at 8:30 am ET. This presentation will be available via webcast on Hill's Investor Relations website. The company specializes in program and project management services across various sectors and has been recognized as one of the largest construction management firms in the U.S., according to Engineering News-Record.
Hill International (NYSE:HIL) has been awarded a contract by the Albanian Ministry of Infrastructure and Energy to lead an international consortium for Project Management services on the Llogara Tunnel. This transformative project, valued at 155 million euros, aims to reduce travel time from Vlora to Saranda by approximately 40 minutes and enhance road safety. The tunnel, measuring 6 km with an adjacent 7.42 km roadway, is scheduled for completion in early 2025 and is expected to boost tourism in the region.
Hill International (HIL) has been awarded a contract by PennDOT District 6-0 for the Central Access Philadelphia (CAP) project, valued at $225 million. This infrastructure initiative aims to replace and expand bridge structures over I-95 and enhance pedestrian access along the Delaware River waterfront in Center City, Philadelphia. Scheduled for completion in 2026, the CAP will reconnect the waterfront with nearby neighborhoods and is expected to stimulate private development and urban renovation. Hill's responsibilities include project management and addressing public concerns during the construction.
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