AVH and CFE examine a combination of their construction activities

The boards of directors of Ackermans & van Haaren and CFE examine the combination of the activities of Van Laere group and CFE Contracting under CFE.

Van Laere group, a leading general contractor in Belgium, realised a turnover of 195 million euros in 2016. It is fully owned by Ackermans & van Haaren. The most important subsidiaries of Van Laere group are Algemene Aannemingen Van Laere NV, Groupe Thiran SA and Arthur Vandendorpe NV.

Even though the transaction does not fall within the scope of article 524 of the Companies Code, the board of directors of CFE decided on June 23, 2017 to appoint a committee of independent directors. The committee is composed of Ciska Servais SPRL, represented by Mrs Ciska Servais, by Pas de Mots SPRL, represented by Mrs Leen Geirnaerdt, and by Mr Philippe Delusinne. This committee will describe the nature and terms of this transaction, evaluate the pro’s and con’s for CFE and its shareholders and evaluate the financial consequences, to allow the board of directors of CFE to take a final decision.

The transaction could take place in the course of the fourth quarter of 2017, after the realization of a due diligence.

For further information, please contact, at CFE:
Renaud Bentégeat
Chief Executive Officer
tel.: +32 2 661 13 27
mobile: +32 497 514 445

Fabien De Jonge
Chief Financial Officer
tel. +32 2 661 13 12
mobile +32 497 514 406

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