February 13 - The board of directors of Breda based shipping line Dockwise has unanimously welcomed the proposed combination with marine services provider Royal Boskalis Westminster.?
The cash offer by Boskalis of EUR18.50 (USD24.94) per share cum dividend for all issued and outstanding common shares in Dockwise has been accepted by 92.93 percent of Dockwise shareholders.?
Dockwise explained that it recognises the strategic merit of the combination of the two entities. The merger fits with the strategy of Dockwise to expand in the offshore transport, installations and logistics management market. Boskalis noted the takeover will strengthen its position in the offshore energy market.?
André Goedée current CEO of Dockwise, has agreed to join the board of the Royal Boskalis Westminster in order to smooth the transition of the two firms into one. Furthermore, Adri Baan, chairman of the board, Dockwise, will join the supervisory board of Boskalis following the completion of the takeover.?
In other news, Dockwise has published its financial highlights for financial year (FY) 2012. Revenues at the shipping line grew 35.3 percent year-on-year to USD539.4 million when compared to FY 2011.? ?Adjusted earnings before interest, tax, depreciation and amortisation climbed 29.2 percent year-on-year to USD174.2 million. For FY 2012 Dockwise recorded a net profit of USD21.1 million - for FY2011 its net loss was USD33 million.?