Royal Boskalis Westminster N.V. (Boskalis) has signed a Letter of Intent (LoI) to acquire offshore activities from VolkerWessels.
Under the intended transaction, Boskalis will acquire maritime and offshore wind energy related activities of VolkerWessels, being VBMS, Stemat and VSI (Volker Stevin International).
Peter Berdowski, CEO Boskalis:
“For many years we have been working closely and constructively together with VolkerWessels both on- and offshore. Over the last couple of years, we jointly increasingly targeted offshore wind opportunities and together acquired and completed projects successfully. For the coming years, we expect demand for offshore wind energy to further increase both in Northwest Europe and beyond. We are therefore very enthusiastic that we can incorporate these activities into Boskalis for the full one hundred percent. Combining these with our other maritime activities will create new opportunities for market and cost synergies. This is a logical and desirable step for Boskalis in its strategy aimed at strengthening its offshore service proposition.”
VBMS is a 50/50 Boskalis – VolkerWessels joint venture. As a consequence of this transaction, Boskalis will acquire the remaining 50% share in VBMS.
Stemat has a global offering of specialized vessels including a cable laying vessel and multi-purpose vessels. Late 2014 and mid-2015, Boskalis and VSI in joint venture acquired two offshore wind park projects, Wikinger and Veja Mate respectively. As a consequence of this transaction, Boskalis will execute these two projects on a 100% basis.
Acoording to Boskalis, the company has the intention to close this transaction in the second quarter of 2016 subject to the satisfaction of customary conditions and with an effective date of January 01, 2016.