Koninklijke Boskalis Westminster N.V. : Boskalis sells stake in Archirodon for
USD 190 million
Papendrecht, 11 July 2013
Royal Boskalis Westminster N.V. (Boskalis) today successfully completed the
sale of its 40% stake in Archirodon Group N.V. The possible sale had already
been announced in November 2012 after Boskalis was approached by the party in
question from the Middle East. The equity interest was partly sold to this
party and partly to the existing 60% co-shareholder.
Boskalis received a cash sum of USD 190 million for its 40% stake, resulting
in a book gain of several tens of millions of euros. The Archirodon activities
and results will be deconsolidated with effect from the third quarter 2013.
The book result will be recognized in the results for the second half of the
Archirodon operates as a maritime contractor mainly in the Middle East and
North Africa. The sale is in line with Boskalis' strategic focus following the
company's recent expansion through SMIT and Dockwise.
This is an English translation of the Dutch press release. In the event of any
disparity between the Dutch original and this translation, the Dutch text will
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 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 offshore
energy sector including subsea, heavy transport, lifting and installation
(through Boskalis Offshore and Dockwise) and towage and salvage (through
SMIT).It also has a strategic partnership in terminal services (Smit
Lamnalco). With a versatile fleet of over 1,100 units Boskalis operates in
around 75 countries across six continents. Including its share in
partnerships, Boskalis has more than 11,000 employees.
This press release can also be found on our website www.boskalis.com.
FOR FURTHER INFORMATION
Martijn L.D. Schuttevâer
T +31 78 6969310
F +31 78 6969020
PDF version of this press release
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Source: Koninklijke Boskalis Westminster N.V. via Thomson Reuters ONE
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