Boskalis Sells Stake in Middle East Maritime Contractors
Royal Boskalis Westminster N.V. (Boskalis) has sold its 40% stake in Archirodon Group N.V. Boskalis explain that 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.