98.9% of HBG stockholders accept Grupo Dragados' offering

Almost 99% of HBG shareholders have accepted the Takeover Bid of shares launched by Grupo Dragados, representing a clear success of the integration process of the Dutch group into Grupo Dragados.

The success of the offer means the promotion of Grupo Dragados into the first position in the Spanish Ranking of services and construction by revenues and turnover, far from its Spanish competitors, as well as becoming the third European group of the sector. After the acquisition of HBG, Grupo Dragados will achieve a stable presence -through very strongly implemented companies- in the United States, United Kingdom, Ireland, Germany and Benelux countries (The Netherlands, Belgium and Luxemburg) markets.

Next 22nd of April, the first Management Board will be held, directed by its Chief Executive Officer, Santiago Foncillas. They will deal with the integration process, costs savings, development of synergies aimed at consolidating and boosting its new leadership position in the international market of urban and industrial services, as well as in the construction and operation of transport infrastructure concessions.

The acquisition of HBG will represent for Grupo Dragados becoming one of the main players in the profitable world dredging market, achieving a privileged position for the future development of the construction market and industrial services in Central and Eastern Europe when the EU enlargement will take place, achieving an ideal position to continue growing in the concessions sector, where it is already a world leader and to develop in Europe the diversification process that it has successfully carried out in Spain during the last years.

Grupo Dragados will extend until the 25th of April the period for the owners of the 405,000 HBG shares that have not yet participated in the takeover bid to be able to sell their shares in the same terms and conditions as contained in the Offer Memorandum. The participation that the Spanish company will acquire will imply the exclusion of the quotation of the HBG shares at the Amsterdam Stock-Exchange. Grupo Dragados, once the deal will be completed, will ask for a listing on Amsterdam Euronext .

Therefore, according to what has been said in previous communications, Grupo Dragados and HBG jointly announce that the takeover bid is declared unconditional over the whole ordinary shares of HBG. This represents, once and for all, the acceptance by Grupo Dragados of the bid and its compromise to make effective the acquisition of the shares. Payment of the shares will be effective in all the bank offices of the agent bank ING Bank N.V. from next 17th April.

(source: Grupo Dagrados)

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