Partial demerger of DEME from CFE Group

June 2022 — On 2 December 2021, CFE announced its intention to split the Group into two separate listed entities. CFE, a multidisciplinary, integrated group addressing attractive growth markets in Belgium, Luxembourg and Poland. It focuses on four segments: real estate development, construction and renovation, multitechnics and investments. DEME is a global marine solutions provider and is active in offshore energy, dredging and infrastructure, environmental and concessions. DEME has a modern fleet of multipurpose vessels equipped with state-of-the-art technology.

As CFE and DEME operate in different segments and geographical markets, each with their own distinct management and strategic priorities, the partial demerger will allow both companies to further develop their activities and to grow as two solid listed companies. The partial demerger will allow both firms to better articulate their respective purpose and ambitions to shareholders, clients, employees and other stakeholders and to help the stock market fully recognize the true value of both entities separately.

All shareholders of CFE received one DEME Group share for each CFE share in their possession. At a closing price of €106, the split resulted in a price of €96 per DEME share and €10 per new CFE share.

Our role in the transaction

Oaklins’ team in Belgium acted as lead financial advisor in the demerger of DEME from the CFE Group. Along the timeline, Oaklins entirely reshaped the equity story of CFE and its business divisions to improve investor appetite and traction. CFE is a leading and multidisciplinary player that benefits from huge synergies among divisions, attractive growth drivers and an experienced and competent management team. ESG and innovation is at the core of CFE’s daily operations and ambitions. This all led to reformulating the segmental disclosures, forming a solid basis for all future investor communications.