Financial details of the transaction are not being disclosed. Bam Deutschland has 750 employees and annual revenues of approximately €500m (£420m).
Bam said that the transaction is a major step forward in delivering its strategy Building a sustainable tomorrow. It is focusing on growth markets in the Netherlands, United Kingdom and Ireland, where it sees itself as having scale and competitive advantage.
The company said that the divestment will support its capital ratio by shortening of the balance sheet, and will reduce liquidity and the use of bonding. The transaction is expected to have limited impact on the 2021 income statement, and will not change the outlook for 2021.
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