Boskalis sells terminal activities
05. July 2011
| Editorial staff Ship&Offshore
Royal Boskalis Westminster N.V. has reached an agreement with The Rezayat Group of Saudi Arabia to sell SMIT's terminal and AHTS transport activities to Lamnalco Ltd. Boskalis and Rezayat each own a 50% stake in Lamnalco.
Lamnalco will acquire all of SMIT's terminal activities, with the exception of the terminal activities of Rebras (Brazil) and of the joint ventures in Egypt, and Singapore (Keppel-SMIT). In addition Lamnalco will take over eight L-class AHTS vessels from SMIT that are currently part of the SMIT Transport activities.
The transaction is expected to be executed in the second half of 2011, subject to satisfaction of the conditions customary for transactions of this nature.
