Boskalis moves for Dockwise

Dutch dredging and maritime infrastructure firm Royal Boskalis Westminster has become the largest shareholder in marine contractor Dockwise.

Boskalis revealed its intention of making an offer for Dockwise, also headquartered in the Netherlands, yesterday, and now claims to hold a 33% stake. Dockwise described the offer as “unsolicited”.

According to Boskalis, the shares acquired since yesterday morning were purchased at an average price of €17.04, with a maximum price of €17.20.

HAL Investments, a Curaçao-based investment company, has committed to support the offer and tender its shares in Dockwise, representing approximately 32% of the outstanding ordinary shares, under the conditions that will be applicable to the offer.

As a result of the primarily listing of Dockwise on the Oslo Stock Exchange, the Norwegian offer rules will be applicable. The Netherlands Authority for the Financial Markets (AFM) believes that, in addition to the Norwegian offer rules, the Dutch offer rules are also applicable. Boskalis said it would approach both financial regulators to ensure that the offer process could be conducted “in an efficient manner”.