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AMSTERDAM, April 18 (Reuters) - Dutch construction company VolkerWessels said on Tuesday it intends to return to the stock market after nearly 15 years, as the controlling Wessels family seeks to sell a minority stake via a share sale on Euronext Amsterdam.
People close to company told Reuters in March the company was targeting a market value of around 2 billion euros ($2.13 billion), or about 7 times 2016 earnings before interest, taxes, depreciation and amortisation (EBITDA) of 254 million euros. The valuation is roughly in line with the average for the construction sector.
CEO Jan de Ruiter, a former banker for ABN Amro, told reporters the exact size of the offering was yet to be determined, but the Wessels family intended to continue to sell down its stake over time after the listing.
"We believe that a stock market listing of VolkerWessels ... will strengthen the name and profile of the company," De Ruiter said, adding that it would also "generate liquidity for the selling shareholders."
The Wessels family's investment vehicle, Reggeborgh Participaties, said it was selling shares because it wanted to diversify its investments.
VolkerWessels was formed in 1997 when tycoon Dik Wessels bought rival Volker Stevin. Wessels has expanded his family's construction company of the same name via a series of mergers.
Wessels took VolkerWessels private in a 720 million euro buyout in 2003. He sold a 47.5 percent stake in VolkerWessels to private equity firm CVC in 2007, which he bought back in 2012. Financial details of those transactions were not disclosed.
His personal fortune is estimated at more than 3 billion euros by Quote Magazine, which lists the wealthiest people in the Netherlands.
VolkerWessels had 2016 sales of 5.5 billion euros, making the group the Netherlands' second-largest builder after Royal BAM group.
It has major operations in the Netherlands, with additional activities in Britain, Germany and North America.
There is no date yet for the pricing and the listing.
ABN Amro, ING, Merrill Lynch and Morgan Stanley are joint global coordinators for the sale, with BNP Paribas, Rabobank bookrunners. Kempen & Co is advising Reggeborgh.
$1 = 0.9386 euros Reporting by Toby Sterling; Editing by Jane Merriman