After 51 years’ public listing, Dutch marine services provider Boskalis has confirmed it will be delisted on November 9 following a 95% take-over bid launched by HAL Holding in March.
The $2.3 billion takeover deal was sealed in late October, and it means HAL Holding, an investment fund based in Dutch Caribbean island of Curaçao, will own 98.3% of the company.
Based in Papendrecht in the Netherlands, Boskalis’ multi-disciplinary activities include significant towage capabilities largely within the offshore oil and gas and renewables industries, operating around 20 ocean-going and anchor-handling tugs.
Boskalis reported a sharp decline in revenue and earnings in its Towage & Salvage division this year, but key figures indicate revenues up from €1.32 billion in H1 2021 to €1.61 billion in H1 2022 and net profit of €116 million (including €37 million exceptional gain) this year, compared with €72 million for the same period in 2021.
At the end of June, the sale of the Keppel Smit Towage joint venture was successfully completed by Boskalis, with towage activities mainly related to terminal services of Smit Lamnalco. The company reported improved financial results for first half-year 2022 but a sharp decline in revenue and earnings in its Towage & Salvage division.