BAM set for worst day in over two years on BAM Intl investigation
17/10/2022 08:31
** Shares in Royal BAM Group BAMN.AS drop 13.1% after the
construction firm said Dutch authorities were investigating some
projects of its subsidiary BAM International urn:newsml:reuters.com:*:nFWN31G041
** "BAM International was informed that the company is the
subject of an investigation relating to potential irregularities
at some already completed projects," BAM says
** BAM said in 2020 it would wind down the unit delivering
construction, civil engineering and electrical contracting
projects outside of Europe, given the lack of positive outlook
** The group says that all BAM International projects have
been completed
** The stock of BAM, down around 24% year-to-date, is on
track for its worst day since July 2020
(Reporting by Juliette Portala)
((juliette.portala@tr.com))