Heijmans NV, HEIJM

The transaction is the outcome of Heijmans' assessment of the strategic fit and international business opportunities of Franki within the group, combined with the interest potential buyers have shown in the company.

14.12.2016 - 08:00:52

Heijmans to sell foundation specialist Franki to PORR. Moreover it contributes to Heijmans' objective to improve the debt/ebitda-ratio structurally. The company also contains an unfunded pension liability that is part of the deal. Franki reported a turnover of over ? 60 million in 2015, has approximately 230 employees and is active in Germany, the Netherlands, Belgium, Austria and Poland. The international organisation of PORR can provide the specialized foundation business of Franki with an international business platform as well as additional resources to further develop the company.

On December 13 2016, Heijmans has reached agreement on the sale of all shares in its German-based foundation specialist Franki to PORR Deutschland GmbH, a company of the Austrian construction group PORR. It is expected that the transaction will be completed in January 2017, subject to the approval of the responsible competition authorities. The anticipated net proceeds for Heijmans will be almost ? 15 million.

The transaction is the outcome of Heijmans' assessment of the strategic fit and international business opportunities of Franki within the group, combined with the interest potential buyers have shown in the company. Moreover it contributes to Heijmans' objective to improve the debt/ebitda-ratio structurally. The company also contains an unfunded pension liability that is part of the deal. Franki reported a turnover of over ? 60 million in 2015, has approximately 230 employees and is active in Germany, the Netherlands, Belgium, Austria and Poland. The international organisation of PORR can provide the specialized foundation business of Franki with an international business platform as well as additional resources to further develop the company.

AXECO Corporate Finance is acting as financial advisor to Heijmans in this process.

About PORR With currently more than 15,000 staff members and production output of around ? 3.5 billion (as of year-end 2015), the PORR Group is one of the largest Austrian construction companies and one of Europe's leading infrastructure specialists. As a full service provider, it covers every aspect of the modern construction industry - from building construction through to complex projects in railway and bridge construction, tunneling and road construction. The Group generates more than 86% of its production output on the five home markets of Austria, Germany, Switzerland, Poland and the Czech Republic. In terms of projects, the Group additionally works in selected countries in the CEE/SEE region, in Scandinavia, the UK and Qatar. PORR AG is listed on the Vienna Stock Exchange since April 1869; today it is listed on the prime market.

About Heijmans Heijmans is a listed company that combines activities related to property development, residential building, non-residential building, roads and civil engineering in the working areas living, working and connecting. Heijmans is active in the Netherlands, Belgium and Germany and as a technology partner delivers know-how and concepts in various markets. Our constant focus on quality improvements, innovation and integrated solutions enables us to generate added value for our clients. Heijmans realises projects for private consumers, companies and public sector bodies. With almost 6,500 employees and close to ? 950 million in revenues in the first half of 2016, we are building the spatial contours of tomorrow. You will find additional information on www.heijmans.nl

For more information / not for publication:

Press Marieke Swinkels-Verstappen Communication 31 73 543 52 17 mswinkels-verstappen@heijmans.nl

Analysts Guido Peters Investor Relations 31 73 543 52 17 gpeters@heijmans.nl

Press release: http://hugin.info/130707/R/2064941/775113.pdf

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Heijmans NV via GlobeNewswire

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