Netherlands-based bank NIBC has announced that it arranged financing for the acquisition of Dutch infrastructure and urban development group Strukton by Dutch rail firm Nederlandse Spoorwegen and European consultancy-engineering firm Oranjewoud .
Netherlands-based bank NIBC has announced that it arranged financing for the acquisition of Dutch infrastructure and urban development group Strukton by Dutch rail firm Nederlandse Spoorwegen and European consultancy-engineering firm Oranjewoud .
NS and Oranjewoud are acquiring Strukton for EUR 168 mln. The transaction is expected to close in Q3 2010.
The combination creates a leading infrastructure group with combined revenues of about 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 buyers said.
The transaction will be funded by a combination of a EUR 80 mln equity issue, debt financing and available cash. The debt financing includes EUR 135 mln long-term debt and a EUR 50 mln working capital facility. In addition, Oranjewoud will receive a EUR 80 mln equity bridge facility.
NIBC is acting as financial advisor to Oranjewoud and joint mandated lead arranger of the debt financing.
