Ballast Nedam sells stake in Benelux Secondary PPP Fund I

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Ballast Nedam sells stake in Benelux Secondary PPP Fund I

Ballast Nedam has sold its 20 percent stake in Benelux Secondary PPP Fund I to DG Infra Yield, its joint-venture partner.

The amount involved is approximately €4.5 million (US$4.9 million).

DG Infra Yield already holds the other 80% of the shares in the joint-venture, which has invested in equity stakes in real estate PPP projects since 2011. Ballast Nedam will also transfer the management of the joint venture in the forthcoming period.

The Benelux Secondary PPP Fund 1 acquired equity stakes of three operational PPP projects in Netherlands from Ballast Nedam on 12 September 2011. These projects are provided through design, bulid, finance, maintenance and operation (DBFMO) contracts to the Ministry of Defence, the Government Buildings Agency, the Ministry of Security and Justice and the Ministry of the Interior. The scope includes participation in the Komfort PPP in Utrecht and the DUO2 PPP in Groningen.

Ballast Nedam targets its strategic focus at successfully acquiring and carrying out integrated projects in the working areas of housing and mobility in the Netherlands and internationally. The firm supplies project, process and contract management in the development, implementation and management phases. Ballast Nedam is listed on NYSE Euronext in Amsterdam. The share is included in the Amsterdam Small Cap Index.

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