Dutch contractor Royal Bam Group is planning to sell its Belgian subsidiary, Bam Galère, to Liège-based rival Thomas & Piron Group.
The sale includes Bam Galère’s plant and equipment subsidiary managed by Man Mat and Bam La Lux.
Bam is not disclosing the financial details of the transaction.
Bam Galère has 650 employees and an annual turnover of €200m.
Ruud Joosten, Royal BAM Group’s chief executive, said: “This transaction marks a further step forward in delivering our strategy ‘Building a sustainable tomorrow’.
“We are restructuring Bam’s portfolio of businesses to focus on markets and projects where we can leverage our proven competitive strengths and serve the growing demand for sustainable solutions in the construction industry.
“With Thomas & Piron, we have found a trusted partner and paved the way for the successful future of Bam Galère and its employees.”
The move follows Bam’s 2022 restructuring plan and the completed sale of its German division, including subsidiaries Bam Immobilien-Dienstleistungen and Bam Sports, to German rival Zech Group.
The sale of Bam Galère is subject to the approval of competition authorities, but is expected to close in early 2022.
