Heijmans expected to acquire Proper-Stok, Rotterdam

Heijmans expects to reach agreement regarding the acquisition of the property development company Proper-Stok in Rotterdam. The company employs 50 people and expects to achieve turnover of EUR 150m in 2002.

It is expected that Heijmans will pay about EUR 70-75m for this takeover, which will be financed by issuing cumulative preferred shares. The contribution to EPS after goodwill will be marginal in 2002, EUR 0.36 in 2003, EUR 0.58 in 2004 and EUR 0.61 in 2005.

Heijmans reiterates its EPS target of EUR 3.70 after goodwill amortization (excluding acquisitions).

(source: Heijmans)

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