International Dredging Review

International Dredging Review
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Royal Boskalis Westminster N.V. and Smit Internationale N.V. have reached an agreement in principle on a full merger of the two companies whereby all the activities of Smit will be continued in the combined company referred to as the group. The two companies intend to reach a transaction through a public offer of EUR 60 in cash by Boskalis for all outstanding shares in Smit.

The business combination will create a maritime service provider offering an excellent platform for further growth. Boskalis and Smit have agreed that the existing business plans will serve as the basis for the further expansion of the group and that further growth and development of all ongoing activities will be supported.

Smit’s activities will be continued under the Smit name operating out of the existing head office in Rotterdam.

The terminals activities of Smit and Boskalis’s associate Lamnalco will be integrated creating a global leader in the maritime oil and gas terminal arena. Activities of the group including harbor towage will create synergies in the area of exchanges procurement and crewing of vessels.