Transaction between PGGM and BAM successfully completed
Bunnik/Zeist, 23 December 2020 - The transaction between Royal BAM Group and PGGM Infrastructure Fund announced on 23 November 2020 has been completed. PGGM Infrastructure Fund has acquired a 50% interest in BAM PPP, one of Europe's leading developers and managers of PPP concessions.
This transaction builds on the success of BAM PPP PGGM Infrastructure Coöperatie U.A., the joint venture formed between BAM PPP and PGGM Infrastructure Fund in 2011.
The extended partnership is expected to generate significant potential to accelerate growth in existing European and new global markets by providing BAM PPP with a broader remit and greater flexibility to expand its portfolio. At the same time, BAM PPP will be continuing to provide first-class services for its clients along the entire lifetime of the concession.
From 1 January 2021 BAM PPP will operate as a joint venture between Royal BAM Group and PGGM Infrastructure Fund.
About PGGM
PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On June 30, 2020 PGGM had EUR 246 billion in assets under management and was administrating pensions of 4.4 million participants. Around 750,000 workers in the Dutch healthcare are connected to PGGM&CO, our members organization. Either alone or together with strategic partners, PGGM develops future solutions by linking together pension, care, housing and work. www.pggm.nl
About BAM PPP
Formed in 2005, BAM PPP is currently responsible for Royal BAM Group’s involvement in public private partnership (PPP) projects. BAM PPP operates in five key European markets (Netherlands, Belgium, UK, Ireland and Germany) and in selected International markets, in addition to exploring broader project finance investment opportunities. BAM PPP’s sector expertise includes roads, rail, education, health, justice, marine and general accommodation. BAM PPP has reached financial close on 49 projects, with a total capital value of over €12.1 billion. www.bamppp.com
Further information
- PGGM (press): Maurice Wilbrink, +31 (0)30 277 15 00, maurice.wilbrink@pggm.nl;
- BAM PPP: Vicki Harris, +44 (0)141 779 8634, vicki.harris@bam.com;
- Royal BAM Group (press): Niels van Dongen, (030) 659 86 23, niels.van.dongen@bam.com or Arno Pronk, arno.pronk@bam.com (030) 659 86 23;
- Royal BAM Group (investor relations): Michel Aupers, +31 (0)30 659 87 07, ir@bam.com.