Boskalis Says Funding in Place for Dockwise Acquisition

Press Release
Tuesday, January 08, 2013

Boskalis states it has financing in place to make an all cash voluntary public offer for all ordinary shares of Dockwise.

With reference to the press release of 21 December 2012 in which Boskalis announced its decision to make an all cash voluntary public offer for all the issued and outstanding ordinary shares of Dockwise at a price of EUR 18.50 per share cum dividend (the Offer), Boskalis hereby confirms that it has the necessary funds available to finance the Offer.

The Offer values Dockwise at EUR 733 million with an enterprise value of approximately EUR 1.25 billion. Boskalis will finance the Offer and refinance existing facilities through a mix of existing cash resources, new senior debt facilities and an equity issuance. 
Boskalis confirms that it has taken reasonable measures to ensure that it will be able to finance the equity part of the Offer and that it has secured EUR 1.3 billion of committed financing arrangements with tenors of up to 5 years. The combination of the committed debt financing and the intended issue of new equity will be used to finance the Offer and for general corporate purposes.

The committed debt financing is subject to customary conditions and in line with current market practice. Boskalis has no reason to believe that these conditions will not be fulfilled on or prior to the settlement date.

Furthermore, in line with regulatory requirements, Boskalis will imminently submit a request for approval of its offer document to the Oslo Stock Exchange and the Netherlands Authority for the Financial markets. The Offer Document is expected to be published and the Offer is expected to commence in the week of the 21 January 2013.


Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Euroseas Sells C/V Marinos

Euroseas Ltd.  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes,

Bill on Danish Maritime Planning Submitted

The bill is to form the basis of a maritime planning act intended to promote economic growth and development of sea areas. The Danish Maritime Authority is to head the work.

Plans to Create Rio Doce Fund

Vale and BHP Billiton announced today plans to work together, with Samarco, to establish a voluntary, non-profit fund to support the rescue and recuperation of the Rio Doce river system,

Mergers & Acquisitions

Groundbreaking Ceremony for Seaspan's Vancouver Office

Seaspan hosted a groundbreaking ceremony today to announce it has officially started construction on a new head office in North Vancouver. The 7,800 square metre (84,

Shipping to See Further Consolidation

The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through,

Alaska Buys TransCanada AK LNG Stake

The State of Alaska has finalized a deal with TransCanada to buy out the pipeline company's share in the proposed Alaska liquefied natural gas export project for nearly $65 million.

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0992 sec (10 req/sec)