Added on: 26 August 2015

• Sale of shares in Imtech Industry International B.V. and Ventilex B.V.
• Asset transaction with Unica for parts of Imtech Building Services B.V.
• Expected: sale this week of Imtech Suir Engineering Limited (Ireland)
• Negotiations on sale shares of Spanish operating companies progressing well

On 25 August 2015, the Imtech financiers, in their capacity as the pledgees, have sold the shares in Imtech Industry International B.V., with its head offices in Coevorden, and Ventilex B.V., including participations, to Techim B.V. These companies have a combined workforce of 248 employees.

The transaction involving Imtech Industry International B.V. has released sufficient funds to enable the associated company Imtech Nederland B.V. to carry out its shared services centre activities for the Benelux arm until 28 September 2015. These activities are carried out for various Dutch subsidiaries and the (future) buyers of same. This involves around 125 employees. After 28 September 2015, depending on the buyers, as many of these employees as possible will be transferred to the various Dutch operating companies up for sale.

The assets and activities of the bankrupt company Imtech Building Services B.V. will be sold in parts. Unica has acquired the contracts for the Sprinkleractiviteiten (sprinkler activities), Beheer en Onderhoud (management and maintenance) and Klein Specifiek Werk (small specific work) activities, with a total turnover value of EUR 150 million per annum. Depending on the yet to be demonstrated willingness of clients to do business with Unica from this point onwards, this will secure the jobs of several dozen to around 200 Imtech employees.

The trustees are in exclusive negotiations with private equity firm Endless LLP and the Imtech management regarding Imtech Ireland. Endless LLP wishes to acquire the shares in Imtech Suir Engineering Limited and its subsidiaries Imtech Suir M.E.C. Limited, Imtech Suir Saoudi Arabia LLC and Imtech Suir Quatar LLC. Endless LLP is also interested in the activities of Imtech UK.

A non-disclosure agreement has been signed with five parties in connection with the negotiations on the sale of the shares in the Spanish operating companies. These have around 1,900 employees. The trustees expect to complete this process this coming weekend.

The proceeds from the transactions will not result in any substantial payments to creditors at N.V. level. Also, the shareholders of Royal Imtech N.V. should not expect any proceeds. The share transactions do have a positive impact on the employment of Imtech employees, which remains completely unchanged and intact, and on the position of the creditors of said acquired Imtech subsidiaries. At the level of Royal Imtech N.V., the share transactions prevent the addition of extra creditors.

Trustee Jeroen Princen is pleased with the progress: "We are hopeful that we can conclude the sale of divisions before next Monday. It is important that clients and employees have clarity as quickly as possible. We are working day and night and doing our utmost to make that happen."

This press release and an overview of the companies transferred per division can be found on the website www.imtech.com.

Media contacts:
Citigate First Financial
Claire Verhagen / Suzanne Bakker
T. +31 (0)20 575 4010
E. claire.verhagen@citigateff.nl / suzanne.bakker@citigateff.nl


distributed by