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Royal BAM Completes Acquisition of Ballast Ham Dredging
01 Feb 2003
Royal BAM Group in the Netherlands says it has acquired the one-third interest in the dredging company Ballast Ham Dredging (BHD) that was owned by Ballast Nedam.
'As stated at the time of the announcement of this transaction on 12 September 2002, the acquisition involves an amount of 210m, ' said the company.
Royal BAM Group already held a two-thirds interest in BHD (since taking over Hollandsche Beton Group).
Royal BAM Group has financed the acquisition with a bridging loan of 140m-plus available cash. During the course of 2003, the Group will be seeking a partner with which to continue the dredging activities on a joint basis.
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