Boskallis' Wooing of Dockwise Culminates in Success

Press Release
Wednesday, February 13, 2013

Dockwise supports combination with Boskalis and recommends the Boskalis Offer to shareholders.

Extracts from the Dockwise statement follow:

The Board of Directors of Dockwise has unanimously resolved to support the combination of Dockwise and Boskalis and to recommend the mandatory cash offer by Boskalis of EUR 18.50 / NOK 137.65 per share cum dividend for all of the issued and outstanding common shares in the capital of Dockwise. Boskalis welcomes the position of Dockwise.

As indicated by Dockwise from the outset of the offer process, Dockwise recognises the strategic merits of the Combination. The Combination fits within the strategy of Dockwise to expand in the offshore transport and installation as well as the logistical management market, and is aligned with the focus of Boskalis on the strengthening and expansion of its position in the offshore energy market. The Combination will have a stronger and broader position within the value chain for both the transport and installation and logistical management segments of the business.

Supported by Boskalis's strong balance sheet and global reach, Dockwise will be able to reach its strategic objectives in transport and installation and logistical management faster compared to a continued stand-alone scenario. The Board initially indicated that the intended offer price of EUR 17.20 undervalued Dockwise and did not reflect its potential, and has welcomed the subsequent price increases to the final Offer price of EUR 18.50 / NOK 137.65 which is accepted by 92.39% of the Dockwise shareholders.

André Goedée, CEO of Dockwise on the Offer and the Combination:
"From the outset, the Dockwise board has identified strategic merit in a combination with Boskalis, building on Dockwise's strategy. The understanding confirmed between the CEO's ensures the best and most efficient plan for the combination, we are pleased to recommend the offer. The Dockwise team looks forward to becoming part of the Boskalis group and with minimal operational overlap between our companies, we foresee a swift integration. I am confident that the combined expertise, uniquely available within Dockwise and Boskalis, will be successful in offering a broad integrated range of premium services to our current and future clients."

 

 

 


 

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

People & Company News

Keppel T & T Appoints Lim Chin Leong to its Board

Keppel Telecommunications & Transportation Ltd (Keppel T&T) has strengthened its Board with the appointment of Mr Lim Chin Leong as an independent, non-executive

Dool to Serve as Chair of SLSMC Board

The St. Lawrence Seaway Management Corporation (SLSMC) announced that Tim Dool has been named as Chair of the Board of Directors, effective September 1. Dool was

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

Finance

Brazil Presidential Candidate Silva Moots Price on Carbon

Brazilian presidential candidate Marina Silva plans to put a price on greenhouse gas emissions and implement a national carbon market if elected, according to policy proposals released on Friday.

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Athabasca Completes Dover Stake Sale to PetroChina

Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PertroChina Co Ltd for $1.18 billion.

Mergers & Acquisitions

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Kalmar to Supply 4 RTGs to Super Terminais, Brazil

Kalmar, part of Cargotec, will deliver four E-One2 Zero Emission rubber-tyred gantry cranes (RTGs) to Super Terminais in Manaus, Brazil. The 8 million USD order

Athabasca Completes Dover Stake Sale to PetroChina

Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PertroChina Co Ltd for $1.18 billion.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.1787 sec (6 req/sec)