Closing of the operation whereby CFE acquires exclusive control of DEME and Ackermans & van Haaren become CFE's majority shareholder
24 December 2013 - Divestments - Belgiump>VINCI today announces closing of the operation where Compagnie d’Entreprises CFE SA (CFE) acquires exclusive control of DEME NV (DEME), one of the world's leading dredging and maritime works firms.
In September 2013, VINCI entered into an agreement with Ackermans & van Haaren NV (AvH) involving the injection by AvH of its 50% stake in DEME into CFE, then a 46.84% subsidiary of VINCI, in exchange for new CFE shares acquired at the price of €45/share. The agreement also provided for VINCI to sell half its stake in CFE to AvH, on the basis of the same price per share.
On closing of this operation, CFE becomes DEME's sole shareholder and AvH majority shareholder in CFE, with a 60.39% stake. VINCI retains a 12.1% stake in the capital of CFE, which is listed on NYSE Euronext Brussels.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.