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Hill International Acquires Majority Stake in Gerens Management Group

Hill International (Nasdaq:HINT), a Marlton-based construction management firm, announced today that it has acquired 60 percent of the outstanding capital stock of Gerens Management Group, S.A.Hill International (Nasdaq:HINT), a Marlton-based construction management firm, announced today that it has acquired 60 percent of the outstanding capital stock of Gerens Management Group, S.A., a Spanish firm that provides project management services on major construction projects throughout Spain as well as in Western Europe and Latin America. Terms of the deal were not disclosed.

Hill co-founded Gerens in 1998 but sold its minority stake in the company in 2000. Gerens, which has about 250 employees, will immediately change its name back to the original name of Gerens Hill International, S.A.

In 2007, Madrid-based Gerens generated total revenues of approximately 21.0 million euros, or $30.6 million. The remaining stakeholders in Gerens, who own 40 percent of the company, consist of Gerens’ managing director and a group of Spanish savings banks.

Shares of Hill traded at $13.25 Tuesday morning.