TCN and Wedge renounce majority in Ballast Nedam (NL)

The intention of project developer TCN and investment company Wedge to obtain a majority in Ballast Nedam has been withdrawn. Instead the companies have chosen for a more intensive collaboration with the construction company, according to Ballast Nedam.

Last year, TCN and Wedge took over a stake in Ballast Nedam from the German constructor Hochtief. Since then both parties hold a share of 24% in Ballast Nedam. TCN and Wedge then announced their intention to get hold of a majority of the shares.

Joint venture
Over the last few months, Ballast Nedam and the two shareholders have looked into the possibility of forming a joint venture. At the same time, Ballast Nedam and TCN started to work together on certain projects. The first experiences were good, but both parties didn’t succeed in agreeing on in which way and under which terms the joint venture should take form. After this, TCN and Wedge decided to limit themselves to the part of normal shareholder. Where possible, the collaborations will be expanded.

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