The takeover will see Leo Dynamische Investering BV, a wholly owned subsidiary of the ASL Marine Group, take over 100% of Vosta’s shares.
According to ASL, synergies will be derived on many aspects of operation between the two groups following the acquisition and ASL’s scope of services will be increased to include design and engineering.
Vosta LMG is a leading engineering and contracting company, serving the worldwide dredging industry. It is renowned for its innovation in the sector, including the Greenport Ball Joint – a new design for use in floating pipelines behind cutter section dredgers, so it is a lucrative prospect for ASL.
ASL also wants to strengthen its presence in certain countries by tapping into Vosta’s strong existing client base in the Netherlands, Germany, UAE, India, Singapore, China and the US.
Post acquisition, ASL wants to maintain “independent and normal business operations” at Vosta and it stresses that all of Vosta’s projects will not be undertaken at ASL yards, allowing Vosta to work with other shipyards and fabrication plants on some of its turnkey projects.
The takeover follows years of cooperation between the two groups.
