The Dutch activities of construction and infrastructure company VolkerWessels will be taken over by investor HAL and dredging and maritime service provider Boskalis.
VolkerWessels owner Reggeborgh and HAL reached an agreement on Thursday. The acquisition concerns the divisions Construction & Real Estate Development and Infra NL.
The large construction group accounted for a turnover of almost 3.6 billion euros last year. The amount involved in the acquisition has not been disclosed. According to Reggeborgh, the owner of Boskalis is known as a long-term and stable investor.
The acquisition still needs to be approved by regulators such as the ACM and the relevant works councils. The purchase agreement is expected to be signed at the end of the third quarter. Completion of the acquisition is expected in the first quarter of next year.
According to VolkerWessels, the transactions fit into the “necessary” stabilization of the construction and infrastructure sector in the Netherlands. Reggeborgh is therefore of the opinion that this transaction is in the interest of all stakeholders. “We have a lot of confidence in the new combinations to be formed,” says VolkerWessels chairman Henry Holterman.
VolkerWessels’ foreign activities in the United Kingdom, North America and Germany are not part of the proposed transaction.