Boskalis raises funds for takeover

Royal Boskalis Westminster is to launch an equity offering to raise up to € 230 million. Up to 5,1 million shares will be offered through an accelerated bookbuild offering on a non pre-emptive basis.

The company expects the shares issued in connection with the offering to be admitted to listing on Euronext Amsterdam by NYSE Euronext on 15 December.

A statement from Boskalis said the proceeds of the share offer will be used to partly finance the recently agreed takeover of Smit International.

In addition to the offering, major shareholders in Boskalis, in the shape of HAL Investments and Delta Lloyd Group have committed to acquire up to € 105 million worth of shares in a private placement on a non pre-emptive basis. HAL Investments will thereby maintain its 32,48% stake in Boskalis.