BAM and MerweOord will jointly seek potential buyer for BAM's interest in Van Oord

17 December 2010 17:57 - Royal BAM Group nv

Bunnik, 17 December 2010 - Royal BAM Group and MerweOord, the investment company of the Van Oord family, have agreed to jointly seek a potential buyer for the 21.5 percent stake of BAM in Van Oord.

Optionally, MerweOord will increase the stake to be acquired by a third party, up to 30 percent, which is expected to increase the opportunities for disinvestment. Royal BAM Group has already expressed its intention to divest the minority interest in Van Oord for strategic reasons.

NPM Capital and MerweOord have reached agreement on the sale of the 27.5 percent interest of NPM Capital in dredging company Van Oord to MerweOord. BAM has approved this transaction. BAM has rejected a similar offer from MerweOord for the stake of BAM in Van Oord. The parties do not disclose any details on the purchase price.

Further information: P.R.E. Snippe, +31 (0)30 659 87 07.

AP/pr/10/0215e