Boskalis trims stake in Fugro

Offshore staff

PAPENDRECHT, the NetherlandsRoyal Boskalis Westminster has reduced its holding in Fugro to 9.38%.

The reduction was accomplished through a successful accelerated bookbuild through which 12,685,878 (15%) certificates of shares in Fugro were placed with institutional investors at EUR 14.50 ($15.42) per share. The bookbuild commenced on Dec. 12, after the closing of Euronext Amsterdam.

Boskalis CEO Peter Berdowski said: “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-day lock-up period during which it may not dispose of shares in Fugro, subject to the agreement with the transaction’s joint bookrunners, Kempen & Co and Goldman Sachs.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...