Brief: BAM Groep Sells Wayss & Freytag Ingenieurbau To Zech Building
16/09/2022 06:18
Sept 16 (Reuters) - KONINKLIJKE BAM GROEP NV BAMN.AS :
* BAM CONCLUDES SALE OF GERMAN CIVIL COMPANY WAYSS & FREYTAG
INGENIEURBAU TO ZECH BUILDING
* HAS SOLD ITS GERMAN OPERATING COMPANY WAYSS & FREYTAG
INGENIEURBAU TO ZECH BUILDING SE, WHICH BUNDLES ALL CONSTRUCTION
ACTIVITIES OF ZECH GROUP
* TRANSACTION, ANNOUNCED ON 21 JUNE 2022, HAS BEEN
SUCCESSFULLY
COMPLETED
* DIVESTMENT OF WAYSS & FREYTAG INGENIEURBAU (ANNUAL
REVENUES OF
MORE THAN EUR 500 MILLION AND 1,000 EMPLOYEES) RESULTS IN A BOOK
PROFIT OF APPROXIMATELY EUR 50 MILLION
* TRANSACTION SHORTENS GROUP'S BALANCE SHEET, AND REDUCES
LIQUIDITY AND USE OF BONDING; BAM'S CAPITAL RATIO IMPROVES BY
2.3 PER CENT
Further company coverage: BAMN.AS
(Gdansk Newsroom)
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