Amsterdam, 5 August 2020 – Arcadis (EURONEXT: ARCAD), the leading global Design & Consultancy organization for natural and built assets, today announces that it has signed a share purchase and sale agreement with its local partner Porto de Cima Concessões S.A. and has transferred the shares it holds in Arcadis Logos Energia S.A. (‘ALEN’) as per today.
In December 2019 Arcadis decided to stop investing in the ALEN associate and its participations in the clean energy assets in Brazil and took a provision to cover the full exposure. As a result of today’s transaction €6 million of guaranteed debt by Arcadis will be repaid and part of the provisions will be released.
Peter Oosterveer, CEO of Arcadis says: “I am very pleased that we reached an agreement to transfer our shares in the ALEN associate to our local partner. After we stopped investing in the ALEN associate, our local partners continued with the operations and we remained in a constructive dialogue with them to come to an orderly wind down of our investment in ALEN. With the closing of the transaction today we can finally leave this legacy issue behind us.”
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Arcadis is a leading global Design & Consultancy organization for natural and built assets. Applying our deep market sector insights and collective design, consultancy, engineering, project and management services we work in partnership with our clients to deliver exceptional and sustainable outcomes throughout the lifecycle of their natural and built assets. We are 28,000 people, active in over 70 countries that generate €3.5 billion in revenues. We support UN-Habitat with knowledge and expertise to improve the quality of life in rapidly growing cities around the world. www.arcadis.com.
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