Ackermans & Van Haaren NV: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Vinci SA and Ackermans en van Haaren NV Reach an Agreement Regarding the Proposed Contribution by AvH to CFE of Its 50% Stake in DEME Followed by a Mandatory Public Offer by AvH on CFE
Vinci SA and Ackermans en van Haaren NV (AvH) announced that they have reached an agreement relating to a new industrial project for Compagnie d’Entreprises CFE NV/SA (CFE) which would enable CFE to acquire full control over D.E.M.E. NV (DEME). CFE, in which Vinci SA owns a stake of 46.84% through its subsidiary Vinci Construction S.A.S., currently exercises joint control with AvH over DEME. According to the agreement between AvH and Vinci SA, the board of directors of CFE will be invited to convene an extraordinary shareholders’ meeting to entitle AvH to contribute its 50% shareholding in DEME to CFE, in consideration for 12,222,222 newly issued CFE shares at a price of EUR 45 per share. Simultaneously, Vinci SA will sell half of its stake in CFE, i.e. 23.42% (before capital increase), to AvH at the same price of EUR 45 per share. As a result of both transactions, CFE would become the sole shareholder of DEME, while AvH would acquire a shareholding of 60.39% in CFE, and VINCI would maintain a stake of 12.1% in CFE.
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