SMIT Acquires Remaining 50 Percent in URS

Monday, December 31, 2007
Smit Internationale N.V. agreed with Fairplay Towage to acquire Fairplay Towage’s 50 percent interest in URS. Through this acquisition SMIT will become 100 percent shareholder of URS, the leading towage provider in Belgium. The total consideration for this transaction amounts to EUR 182.5 million. The transaction will be paid partly in shares and partly in cash. The calculation is based on SMIT’s share price at closing of Euronext Amsterdam of December 28 of EUR 68.34. SMIT will increase its outstanding shares by issuing new shares to an amount of 9.99% of its outstanding shares, as per today which represents an amount of EUR 108 million. The cash consideration amounts to EUR 74.5 million. Closing of the transaction is expected in the first quarter of 2008 and is subject to regulatory competition authority filings and works council advice.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Search for Missing Crew of El Faro

Coast Guard search and rescue crews continue searching for possible survivors from the cargo ship El Faro Monday night, covering a total search area of more than 160,574 square nautical miles.

Northern Fleet to Conduct Anti-terrorist Exercises

The sailors of the Northern Fleet will conduct anti-terrorism exercises at Novaya Zemlya. During the exercise, the coast will be a landing. The landing will

ADF’s New Amphibious Capability Demonstrated

Australia’s newest military capability, the Amphibious Ready Element, has demonstrated its capacity in waters off the North Queensland coast during the Sea Series of exercises.


MECNW Appoints New CEO

Terry Weston has been confirmed as Chief Executive of Maritime and Engineering College North West (MECNW) following the retirement of his predecessor, Jim Teasdale, at the end of September.

Danelec Marine Expands in Brazil

Press release - Danelec Marine has announced that it is expanding its presence in Brazil by naming Telnav Telecomuniçacões Navais a Certified Service Center. With

Navy Kicks Off Tours with Industry Program

The Navy kicked off a new program Oct. 5, designed to give high performing officers and Sailors experience at large corporations for approximately one year.

Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.1411 sec (7 req/sec)