DEME Group started trading its shares on Euronext Brussels on 30 June, following a partial demerger of Compagnie d’Entreprises CFE SA (CFE), which split it into two separately listed entities, DEME Group and CFE, with Ackermans & van Haaren remaining the majority shareholder of both companies.
Namely, CFE announced its intention to split the group in December 2021, saying the purpose of the demerger was to create two leading players in their respective business.
“This demerger should allow the marine engineering as well as the contracting and real estate activities to develop as two solid and separately listed companies, each with their own governance. This operation will also allow to articulate better the respective purpose and ambitions to our shareholders, our employees and other stakeholders. By doing so we will ensure that each entity further develops its leadership position. Finally, the transaction will help the stock market to fully recognize the true value of both entities”.
CFE, which operates in construction, multitechnics and real estate development, then said it aimed at closing the transaction in the summer of 2022.
“The listing on Euronext Brussels will give the DEME Group the necessary and direct visibility to drive its strategy and ambitions forward. It will also unlock the full potential of the Group and realise its true value” , said Luc Vandenbulcke , CEO DEME Group.
“As a publicly-listed company, our goal remains to grow our geographical footprint in all segments of the DEME Group, while keeping sustainability and safety at the absolute core of our operations”.
In 2021, DEME realised a turnover of EUR 2.51 billion and an EBITDA of EUR 469 million, the newly listed company said.
The company is one of the leading contractors in offshore energy, environmental remediation, dredging and marine infrastructure. DEME also engages in concessions activities in offshore wind, marine infrastructure, green hydrogen, and mineral harvesting.