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NIBC advises and finances Oranjewoud's acquisition of Strukton
On 23 July 2010, Oranjewoud N.V. ('Oranjewoud') and N.V. Nederlandse Spoorwegen have reached agreement regarding the acquisition of 100% of the shares of Strukton Groep N.V. by Oranjewoud for an amount of EUR 168.1 million. The transaction is expected to close in Q3 2010.
The combination creates a leading infrastructure group with combined revenues of approximately EUR 1.8 billion and 9,500 employees. The combination offers a wide range of services and, as such, will be better positioned towards international) clients and in tenders for integrated projects.
The transaction will be funded by a combination of a EUR 80 million equity issue, debt financing and available cash. The debt financing includes EUR 135 million long-term debt and a EUR 50 million working capital facility. In addition, Oranjewoud will receive a EUR 80 million equity bridge facility.
NIBC is acting as financial advisor to Oranjewoud and joint mandated lead arranger of the debt financing.