BAM to sell remaining stake in Invesis to JV partner PPGM, shares jump

Koninklijke BAM Groep NV

17/12/2024 08:16

** Shares in Koninklijke BAM Groep  BAMN.AS  rise 3.6% after
the Dutch construction company said it would divest its 50%
stake in join venture Invesis to partner PGGM
    ** The sale, expected to be closed in early 2025, is valued
at around 105 million euros ($110 million)
    ** "The transaction will result in a positive impact on
adjusted EBITDA of approximately 40 million euros," BAM says
    ** The transaction's negative effect on net result will not
be used in the determination of proposed dividend for 2024, it
adds
    ** The shares are on track for their best day since Sept. 27
if the gains hold

($1 = 0.9527 euros)

 (Reporting by Mathias de Rozario in Gdansk)
 ((mathias.derozario@thomsonreuters.com))