The Dutch owner of Bam has announced that it will sell its German business to focus on its core businesses in the UK, Ireland and the Netherlands.
The company previously announced that it is considering selling the division with the company, and announced yesterday that the business will sell for $ 500 million.
Last year, after a fatal accident in the Cologne subway 12 years ago with a fatal accident in the Cologne subway, Bam agreed on a settlement of 36 million.
Bam is already closing its loss-making branch, Bam International, which posted a loss of 110 million last year.
In its latest annual results, Royal Bam said sales in 2020 increased 5.5% to £ 6.8 billion (£ 203 million) loss that included nearly EUR 45 million (£ 39 million) in restructuring charges.