Bam says that the sale (which was agreed again in June) is a significant step within the ‘portfolio adjustment’ of the group, which is able to now deal with development within the Netherlands, the UK and Eire.

Zech Constructing, which is headquartered in Erkrath, North Rhine-Westphalia, specialises in shell buildings, turnkey-ready buildings and the refurbishment and upgrading of current buildings.

The sale of Wayss & Freytag, which has annual revenues in extra of €500 million (£440 million) and employs round 1,000 individuals, ends in a e-book revenue of roughly €50 million.

The transaction shortens Bam’s stability sheet and reduces liquidity and the usage of bonding.

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