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| Sale of BAM Deutschland to Zech Group and Gustav Zech Stiftung successfully completed Royal BAM Group nv has sold its German operating company BAM Deutschland (including subsidiaries BAM Immobilien-Dienstleistungen and BAM Sports) to Zech Group and Gustav Zech Stiftung. The transaction, announced on 9 September 2021, has been successfully completed. For BAM, this transaction is a major step forward in delivering its strategy Building a sustainable tomorrow. BAM is focusing on growth markets in the Netherlands, United Kingdom and Ireland, where the Group has scale and competitive advantage. The divestment of BAM Deutschland (annual revenues of approximately €500 million and 750 employees) will support BAM's capital ratio by shortening of the balance sheet, and will reduce liquidity and the use of bonding. The transaction will have limited impact on the 2021 income statement, and will not change BAM's outlook for 2021. write your comments about the article :: © 2021 Construction News :: home page |