Payouts for executives departing Germany's Hochtief A.G., after its 2011 acquisition by Spanish construction conglomerate ACS Group helped drive the German contracting giant into the red by about $210 million last year.
Hochtief executives who left the firm in the last quarter of 2011 cost the group about $46 million, according to a Jan. 30 company report. The exodus began early last year as Madrid-based ACS gradually built up its ownership stake to more than 50%.