On December 17, the Netherlands-based construction multinational Bam announced that it was selling its 50 per cent share in the public-private partnerships (PPP) contractor Invesis to its partner in this business, the Dutch pension fund manager PGGM. Invesis is the new name of Bam PPP, the concession holder of multiple public infrastructure projects across Europe and Australia, including motorways and public buildings in Ireland. PGGM is to pay Bam €105 million to secure full ownership of the business, with the transaction expected to close early this year. Bam, however, will record an equal impairment to reflect “the impact of increased…

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