Royal BAM NBM acquires HBG
The expectation is justified that Royal BAM NBM and Grupo Dragados will reach agreement on the acquisition of HBG by Royal BAM NBM. The proposed acquisition is unanimously supported by the Executive Board and the Supervisory Board of HBG. Royal BAM NBM intends to acquire all of the shares in HBG held by Grupo Dragados for €20.10 per share in cash, implying an equity value of €715 million for the whole of HBG.
The new combination is one of the top 10 construction companies in Europe with a pro forma turnover of €8.5 billion for the year 2001. Royal BAM NBM is convinced of the strategic fit between the activities of HBG and Royal BAM NBM. The combination of Royal BAM NBM and HBG creates added value by combining the knowledge base and experience of both companies. HBG’s building, property development and infrastructure activities will not only further strengthen Royal BAM NBM’s position in the Benelux but will also add strong market positions in the United Kingdom, Ireland, Germany and the USA. Furthermore, through HBG’s two-third stake in Ballast Ham Dredging, Royal BAM NBM obtains a top position in the worldwide dredging market.