Dutch builder BAM Groep agrees to buy A.Hak in €504 million deal (updated)
UPDATE 1-Dutch builder BAM Groep agrees to buy A.Hak in €504 million deal Adds details on the deal and A.Hak in paragraph 2 and bullet points.
Oct 8 (Reuters) - BAM Groep BAMN.AS has agreed to buy A.Hak in a deal valuing the privately owned underground infrastructure specialist at an enterprise value of €504 million ($565 million), the Dutch builder said on Thursday.
The acquisition, scheduled to close in the first quarter of 2027, will immediately contribute to the group's cash generation, BAM said, adding A.Hak was expected to generate adjusted core earnings of around €65 million to €75 million in the medium term.
Funding has been secured and will consist of a combination of cash on hand and a bridge loan
A.Hak generates about 85% of its revenue in the Netherlands and has smaller operations in Britain and Belgium
The deal will strengthen BAM's position in the energy and water infrastructure markets
($1 = 0.8924 euros)
(Reporting by Jakob Van Calster in Gdansk, editing by Milla Nissi-Prussak)
((jakob.vancalster@thomsonreuters.com))