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Wed December 01 2021

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BAM completes sale of German business

18 Oct The sale of BAM Deutschland to Zech Group and Gustav Zech Stiftung has been completed.

BAM's Edge Grand Central project in Berlin
BAM's Edge Grand Central project in Berlin

Royal BAM Group had announced the same of its German operating company BAM Deutschland (including subsidiaries BAM Immobilien-Dienstleistungen and BAM Sports) on 9th September 2021.

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 BAM’s outlook for 2021.

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MPU
MPU

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