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Boskalis sells stake in SMIT Amandla Marine

By GlobeNewswire,  December 01, 2016, 05:16:00 AM EDT


Papendrecht, 1 December 2016

Royal Boskalis Westminster N.V. (Boskalis) has successfully completed the sale of its stake in SMIT Amandla Marine (SAM). The possible sale had already been announced in March 2016. The stake was sold to management and local investors, thereby returning the business of SAM to 100% South African ownership.

Boskalis received a cash sum of approximately EUR 50 million for the sale. The activities and results of SAM will be deconsolidated with effect from 1 December 2016.

Following the sale, Boskalis will continue to be permanently represented in the region through the activities of SMIT Salvage.

For further information

Investor relations:

Martijn L.D. Schuttevâer

ir@boskalis.com

Press:

Arno Schikker

press@boskalis.com

T +31 78 6969310

Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world with services including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the oil and gas sector and offshore wind industry as well as salvage solutions (SMIT Salvage). Furthermore, Boskalis has a number of strategic partnerships in harbour towage and terminal services (KOTUG SMIT Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of 1,000 units Boskalis operates in around 75 countries across six continents. Boskalis has over 8,200 employees, excluding its share in partnerships.

This press release can also be found on our website www.boskalis.com.

PDF version of this press-release





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Koninklijke Boskalis Westminster N.V. via Globenewswire



This article appears in: News Headlines

Referenced Stocks: BOKA


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