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25 October 2002
NMa clears acquisition of HBG by Royal BAM NBM
Bunnik, the Netherlands - The Executive Boards of Koninklijke BAM NBM
nv (Royal BAM NBM) and Hollandsche Beton Groep nv (HBG) announce that
the Netherlands Competition Authority (NMa) has determined that no licence
is required for Royal BAM NBM's acquisition of HBG's construction activities
in the Netherlands.
On 3 September 2002, the European Commission cleared the acquisition
of HBG's activities outside the Netherlands and the dredging and consultancy
& engineering activities in the Netherlands (approximately 78% of
HBG's turnover in 2001). With clearance from the NMa, Royal BAM NBM now
has the full consent of the competition authorities to acquire HBG. Only
the acquisition of the 1/3 interest in Ballast Ham Dredging by HBG is
still the subject of investigation by the competition authorities. This
will not lead to further delay of the completion of the acquisition by
Royal BAM NBM of the shares in HBG held by Grupo Dragados, S.A. (Dragados).
The completion of the transaction between Royal BAM NBM and Dragados
will take place as quickly as possible, whereupon further details of the
transaction will be released as well as of the method of financing.
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