BAM sells remaining share in PPP joint venture to DIF
Bunnik, The Netherlands, 14 December 2009 - Investor DIF (Dutch Infrastructure Fund) has acquired the final 50 per cent of the shares in the joint venture with BAM PPP. This joint venture was established in December 2007 and has four operational UK PPP projects in its portfolio. BAM PPP remains as the management services provider to all four concessions. The final divestment of 50 per cent by BAM PPP results in a book profit for BAM of more than €9 million.
The transaction fits the long term divestment strategy of Royal BAM Group to realise some of the underlying value in its portfolio of PPP projects, and to recycle funds to support the active bidding programme of BAM PPP.