Royal BAM Group reports that the one-third interest in the dredging company Ballast Ham Dredging (BHD) has been acquired from Ballast Nedam nv. As already stated at the time of the announcement of this transaction on 12 September 2002, the acquisition involves an amount of â‚¬210 million. Royal BAM Group already held a two-thirds interest in BHD (since taking over Hollandsche Beton Groep).
Royal BAM Group is financing the acquisition with a bridging loan of â‚¬140 million plus available cash. During the course of 2003, the Group will be seeking a partner with which to continue the dredging activities on a joint basis.
(source: Royal BAM Group)