Reggeborgh to take Dutch builder VolkerWessels private for $694m.

Dutch investor Reggeborgh proposed to buy all shares in building company VolkerWessels KVW it does not already own, in a bid with a total value of €630m ($694m). Reggeborgh has a 63.5% stake in the builder and is now offering other investors €22.2 ($24.5) for each share they own. That bid represents a 25.4% premium on the closing price of VolkerWessels on Oct 28, a day before the company first announced the intentions of its majority shareholder, and is fully supported by the company's board. “At the time of the IPO, Reggeborgh’s intention was to become a long-term minority shareholder in VolkerWessels over time. However, circumstances have changed to the extent that we are currently in a situation that it is no longer possible to achieve this objective. The European peer group of VolkerWessels has de-rated and share prices of Dutch construction companies suffer from additional pressure as a result of increased uncertainty related to environmental regulations," Henry Holterman, Reggeborgh Group CEO.