The Executive Boards of Koninklijke BAM NBM nv (Royal BAM NBM) and Hollandsche Beton Groep nv (HBG) announce that the Netherlands Competition Authority (NMa) has determined that no licence is required for Royal BAM NBMÂ'Â's acquisition of HBGÂ'Â's construction activities in the Netherlands.
On 3 September 2002, the European Commission cleared the acquisition of HBGÂ'Â's activities outside the Netherlands and the dredging and consultancy & engineering activities in the Netherlands (approximately 78% of HBGÂ'Â's turnover in 2001). With clearance from the NMa, Royal BAM NBM now has the full consent of the competition authorities to acquire HBG. Only the acquisition of the 1/3 interest in Ballast Ham Dredging by HBG is still the subject of investigation by the competition authorities. This will not lead to further delay of the completion of the acquisition by Royal BAM NBM of the shares in HBG held by Grupo Dragados, S.A. (Dragados).
The completion of the transaction between Royal BAM NBM and Dragados will take place as quickly as possible, whereupon further details of the transaction will be released as well as of the method of financing.
(source: BAM NBM)