Sale of BAM Galère to Thomas & Piron Group successfully completed

Royal BAM Group nv has sold its operating company BAM Galère (including its subsidiary BAM Lux) to the Belgian construction company Thomas & Piron Group. The transaction, announced on 2 December 2021, has been successfully completed. Financial details of the transaction are not being disclosed.

For BAM, this transaction marks a further step forward in delivering its strategy ‘Building a sustainable tomorrow’. BAM is restructuring the portfolio of businesses to focus on markets and projects where the Group can leverage its proven competitive strengths and serve the growing demand for sustainable solutions in the construction industry.

The divestment of BAM Galère (annual revenues of approximately €200 million and 650 employees) will have limited impact on the 2021 income statement, and does not change BAM’s outlook for 2021.

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