NIBC Assists in Ballast Nedam Acquisition

NIBC has advised Ballast Nedam on sale of Ballast Nedam Offshore.

Namely, in early 2014 Ballast Nedam asked NIBC to examine the strategic options for the offshore business.

After careful consideration of a number of options, Ballast Nedam and NIBC concluded that the sale of Ballast Nedam Offshore – at the right price – was the best option for the company. In October, Ballast Nedam announced that the disposal of its offshore wind activities would be included in the company’s broader disposal program, and that it had asked NIBC to manage the sale process. Following a careful evaluation of the indicative offers, Ballast Nedam reached agreement with Van Oord on the sale, subject to approval from the competition authorities.

”The transaction was executed within a very short timeline and comes at a decisive moment for Ballast Nedam. It also represents a substantial book profit for our client,” says Annemiek Hofland, Managing Director and senior M&A adviser at NIBC Corporate Banking, adding: “The deal includes all employees involved in the offshore wind (EPCI) activities, the ‘Svanen’ Heavy Lift Vessel and the contract for the Westermeerwind project in the IJsselmeer.”