Royal BAM N : BAM sells Indonesian subsidiary BAM International to management

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Bunnik, the Netherlands, 4 May 2021 - BAM International bv has reached agreement to sell its subsidiary PT BAM Decorient Indonesia to the current management. Financial details of the transaction are not disclosed.

The company - which will continue its activities as PT Decorient Partaya Indonesia - was established in 1970 and is based in Jakarta. Over the past 50 years, Decorient Indonesia has successfully completed a wide range of building and civil engineering projects. This month, the construction of the largest IKEA store in Indonesia at Jakarta Garden City was completed.

The transaction follows BAM's earlier decision to winddown the activities of BAM International, operating outside Europe.

The Board of BAM International would like to thank their Indonesian colleagues for their hard work and contribution for many decades. 'We are pleased that the company can continue its meaningful role in the Indonesian society. We sincerely wish the employees of Decorient Partaya Indonesia all the best for the future.'

Further information:

• analysts: Michel Aupers, [phone], [e-mail];
• press: Niels van Dongen, [e-mail], or Arno Pronk, [e-mail], [phone].