Boskalis Sells More Interest in Fugro

Royal Boskalis Westminster said it has reduced its holding in Fugro to 9.38 percent.

This is the second reduction of interest in Fugro this month by the Dutch dredging and marine specialist.

The new reduction was accomplished through a successful accelerated bookbuild via which 12,685,878 (15%) certificates of shares in Fugro (the Shares) were placed with institutional investors at EUR 14.50 per share. The bookbuild started on Monday December 12, after closing of Euronext Amsterdam.

Peter Berdowski, CEO of Boskalis, said: “During the presentation of the half year results, we indicated that we would reconsider our position in Fugro. Despite our conviction that parts of Fugro fit very well with Boskalis, we recently decided to sell down our Fugro holding in steps. This decision is on the one hand based on the uncertain market conditions which continue to prevail much longer than anticipated and on the other hand also the position of the Fugro management. Through the gradual sell down we have taken away uncertainty in our own share and we expect to create more value for our shareholders going forward.”

In relation to this transaction, Boskalis agreed to a 90 days lock-up period during which it may not dispose of shares in Fugro, subject to the agreement with the Joint Bookrunners.

Kempen & Co and Goldman Sachs acted as Joint Bookrunners for this transaction.

Share this article

Follow Subsea World News


<< Mar 2018 >>
26 27 28 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

The Offshore Technology Conference (OTC) 2018

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific…

read more >

OTC Asia 2018

The biennial OTC Asia is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge…

read more >

NAPEC 2018

North Africa Petroleum Exhibition and Conference – NAPEC is the largest oil and gas exhibition & conference in Africa focusing on the north Africa Market…

read more >

Pipeline Energy Expo 2018

The conference will offer prime opportunities for pipeline professionals to learn, network, and seek innovative solutions and products…

read more >