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Bam completes sale of Wayss & Freytag

Bam will now deal with the Dutch, UK and Irish markets

Bam says that the sale (which was agreed again in June) is a significant step within the ‘portfolio adjustment’ of the group, which can now deal with development within the Netherlands, the UK and Eire.

Zech Constructing, which is headquartered in Erkrath, North Rhine-Westphalia, specialises in shell buildings, turnkey-ready buildings and the refurbishment and upgrading of present buildings.

The sale of Wayss & Freytag, which has annual revenues in extra of €500 million (£440 million) and employs round 1,000 folks, leads to a e book revenue of roughly €50 million.

The transaction shortens Bam’s stability sheet and reduces liquidity and using bonding.

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