Boskalis Intends to Buy Dockwise

Press Release
Monday, November 26, 2012

The addition of Dockwise's activities to the Boskalis group will provide an extensive package of services for clients in the oil and gas sector.

Boskalis has invited the Dockwise Board of Directors to discuss the intended offered acqusition which features:
    •    Intended all-cash offer of EUR 17.20 per share for all issued and outstanding shares of Dockwise for a total consideration of EUR 682 million
    •    The combination broadens Boskalis' maritime services offering for the offshore energy market
    •    Combination of Boskalis and Dockwise provides new strategic opportunities for accelerated growth of the offshore services
    •    Acquisition results in strong EBITDA increase and will be earnings per share accretive

The new combination will be in a better position to serve clients with the optimal deployment of people and equipment under increasingly complex circumstances worldwide. Combining the vessels of Dockwise with the project management expertise and engineering know-how of Boskalis will also enable a fast track implementation of the strategic ambition to execute Transport & Installation (T&I) projects.

The two companies are currently jointly tendering for a large T&I project in Australia. Furthermore, Boskalis sees potential for a broader deployment of the vessels of Dockwise within the group for the benefit of dredging-, offshore- and salvage projects. The acquisition will lead to a strong increase of the EBITDA and will be earnings per share accretive.

Peter Berdowski, CEO Boskalis comments:
"Combining Boskalis and Dockwise offers advantages and new opportunities for both companies. The combination creates a world class maritime player, well positioned for the offshore energy market. This step fits in our growth strategy aimed at broadening our service offering for clients in the oil and gas sector. We are convinced that the addition of Dockwise to our group will structurally create value, as we have also demonstrated with SMIT. Furthermore, the addition will result in a strong increase of our EBITDA."
                                
 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

Mergers & Acquisitions

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Gazprom to Partner Turkey to Supply Gas

Moscow hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Minister of Energy and Natural Resources of the Republic of Turkey.

NWS Approve Persephone Project

Woodside, as Operator of the North West Shelf (NWS) Project, advises that the NWS Project participants have approved the Persephone Project off the north-west coast of Australia.

Offshore Energy

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

Wärtsilä Integrated Solutions for Maersk's AHTS Vessels

A new series of six Anchor Handling Tug Supply vessels to be built at the Kleven Verft AS in Norway for the Danish based Maersk Supply Service A/S - part of the A.

Drillsearch Discovers Gas at Varanus South-1

Drillsearch Energy Limited announced a new wet gas discovery on the Western Cooper Wet Gas Fairway of the Cooper Basin. The Varanus South-1 well in PEL 513 (Drillsearch

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1632 sec (6 req/sec)