Agreement Royal BAM Group and Van Oord Group

5 October 2003 10:31 - Royal BAM Group nv

Royal BAM Group and Van Oord Group expect that agreement can be reached concerning the merger of Ballast Ham Dredging (BHD) and Van Oord ACZ.

The new company will be trading under the name Van Oord NV. With this transaction Royal BAM Group will realise a value of approximately €427 million for BHD, amongst others with a 21,5% interest of the ordinary shares in the combined dredging business.