Papendrecht, 12 February 2019
Royal Boskalis Westminster N.V. (Boskalis) yesterday announced the intended sale of its stake in SAAM SMIT Towage with expected proceeds of more than EUR 175 million. Subject to the closing of this transaction, Boskalis intends to buy back the equivalent of EUR 100 million of its own shares. Based on the current share price, this represents 4.4 million shares or 3.3 percent of the current outstanding share capital. The actual start and details of the share buyback program will at that time be announced through a press release.
This is a Boskalis press release on the grounds of article 17 paragraph 1 of the European Market Abuse Regulation (596/2014).
Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. Core activities, including coastal defense, riverbank protection and land reclamation, allow Boskalis to provide adaptive and mitigating solutions to combat the impacts of climate change, sea level rise and to deliver solutions for the increasing need for space in coastal and delta regions in the world. The company facilitates the development of offshore energy infrastructure, including renewables. It is furthermore active in the construction and development and maintenance of ports, waterways, access channels and civil infrastructure, contributing to improved trade flows and the socio-economic development of a region. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Kotug Smit Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of more than 900 vessels and floating equipment and 10,700 employees, including associated companies, Boskalis is building new horizons in 90 countries across six continents.
This press release can also be found on our website www.boskalis.com.