De Brauw has advised Royal BAM Group on the sale of 50% of the sares in BAM PPP Concessies B.V. to PGGM Infrastructure Fund.

This transaction builds on the success of BAM PPP PGGM Infrastructure Coöperatie U.A., the joint venture formed between BAM PPP and PGGM Infrastructure Fund in 2011. From 1 January 2021 BAM PPP will operate as a joint venture between Royal BAM Group and PGGM Infrastructure Fund. The extended partnership is expected to generate significant potential to accelerate growth in existing European and new global markets by providing BAM PPP with a broader remit and greater flexibility to expand its portfolio. At the same time, BAM PPP will be continuing to provide first-class services for its clients along the entire lifetime of the concession. PGGM Infrastructure Fund intends to pay a consideration of circa €130 million for the acquisition of 50% of the shares in BAM PPP, consisting of an initial consideration of circa €100 million which has been payed at completion of the agreed transaction, and a contingent consideration upon BAM PPP achieving specific financial targets in the future.