Summary
A combination of Heijmans N.V. (Heijmans) and Hollandsche Beton Groep nv (HBG) will be, based on turnover, the market leader in the Benelux and one of the top-5 construction companies in Europe (pro forma turnover EUR 7.1 billion).
Indication of a possible offer: an offer will be made at a considerable premium to the share price of HBG based on the thirty-day average share price of HBG on 7 May 2001 (EUR 13.60), the day Boskalis announced its offer for the dredging activities of HBG.
It is assumed that Boskalis will honour its previous offer for the dredging activities submitted to HBG: a definitive offer for HBG will only be issued after Heijmans, preferably together with HBG, has reached an agreement with Boskalis regarding the acquisition of the dredging activities.
In addition, an offer will entail the condition that HBG will not proceed with the announced joint venture with Ballast Nedam.
The transaction under consideration is expected to lead to an additional increase of approximately 25% of the earnings per share of Heijmans in 2002.
The additional costs savings are expected to lead to an increase of the net result of approximately EUR 25 million.
Go to 'Pressroom' and 'Heijmans in the Press' for the complete press release.