Reggeborgh & VolkerWessels

• Reggeborgh, the internationally active investment company owned by the Wessels family   received significant support from shareholders for its public takeover offer for all of the issued and outstanding shares of Koninklijke VolkerWessels 
• The successful tender period resulted in a shareholding of 97.79% in VolkerWessels by Reggeborgh 
• The delisting of VolkerWessels shares on Euronext Amsterdam will occur on 15 April 2020. Reggeborgh will initiate the statutory buy-out proceedings in order to obtain 100% of the shares
• Kempen & Co, through both its equities as well as corporate finance divisions, has been instrumental in the deal buying 15.38% of the Shares in the open market whilst 18.46% of the Shares were tendered under the Offer. The Offer provides an attractive premium delivering immediate, certain and significant value to Shareholders. The offer price of € 21.92 (€ 22.20 minus € 0.28 interim dividend) represents a premium of 25.4% over the closing price per Share on 28 October 2019. The transaction values all outstanding shares of VolkerWessels at €1.8 billion 
• Earlier in 2019 in anticipation of the offer, our Debt Advisory team played a leading role in structuring and arranging the € 400 million debt facilities raised in connection with the public offer. Van Lanschot in consortium provided the debt facilities in support of this transaction

 Kempen & Co is pleased to be the sole financial adviser of Reggeborgh in its public takeover of VolkerWessels.

Reggeborgh fully supports the long-term strategy of VolkerWessels and moreover the company will be in a better position to deal with the increasingly challenging market conditions with a long term shareholder in a private setting. VolkerWessels will have a strong direct shareholder willing and able to take a long-term view on maintaining and, where possible, enhancing VolkerWessels’ market position. 

Koninklijke VolkerWessels is a leading integrated and diversified listed construction group with a “think global, act local” mind-set. VolkerWessels’ operating model combines a local sales and client focus with a control and support structure at divisional level that optimises scale and expertise across its operating companies. VolkerWessels operates primarily in the Netherlands, the United Kingdom, North America and Germany. Operationally, its business is organised in six segments. In the countries in which VolkerWessels operates it has over 120 local operating companies, which have national and regional offices and management.

• Kempen & Co advised on more than €45 billion of transactions across Europe since 2018
• Kempen & Co has a leading position in public takeovers advising in 9 European public takeovers since 2018
• Kempen & Co’s Debt Advisory team was involved in structuring and arranging of more than €5bn syndicated debt facilities since 2017