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Koninklijke Boskalis B.V.

Koninklijke Boskalis B.V.

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Publicatie datum 07 apr 2016 - 15:49
Statutaire naam Koninklijke Boskalis B.V.
Titel Boskalis reaches financial close on European harbour towage joint venture
Bericht Papendrecht, 7 April 2016 Royal Boskalis Westminster N.V. (Boskalis) and KOTUG International B.V. (KOTUG) announce that the previously announced intended merger of their European harbour towage operations has been completed. At financial close, Boskalis refinanced its contribution to the joint venture and as a consequence has freed up and received EUR 90 million in cash. The joint operations have been transferred to a 50/50 joint venture, bringing together the European harbour towage activities of both SMIT, a Boskalis subsidiary, and KOTUG. In order to retain both strong brand names and to benefit from the well-established brand recognition, the joint venture will operate under the name KOTUG SMIT Towage. The operational integration will start with immediate effect.