Latest news from Heavy Lift & Project Forwarding International Magazine

Smit and Boskalis sign merger potocol

January 25 - Further to the news uploaded here in December, Royal Boskalis Westminster nv (Boskalis) and Smit Internationale nv (Smit) have announced that they have signed a merger protocol for a full merger of the two companies.

The transaction will be put into effect through an all-cash public offer of EUR60 ex-dividend by Boskalis for all outstanding shares in Smit. 

The business combination will create a world class maritime service provider offering a strong platform for further growth. The strategic rationale of the transaction was already supported by the Board of Management and Supervisory Board of both Boskalis and Smit. As previously indicated two large shareholders of Smit, Delta Lloyd Groep and Janivo Beleggingen, have already confirmed an irrevocable undertaking to support and accept the proposed offer. In the merger protocol, Boskalis has agreed to a 2009 dividend payment to Smit shareholders of EUR 2.75 per share. RBS has provided to Smit a fairness opinion with regard to the offer price.

Based on the above, the Board of Management and a majority of the Supervisory Board of Smit have decided to recommend the offer to its shareholders.

Boskalis will submit the draft offer memorandum with the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) for approval no later than February 4th 2010. In line with the statutory timetable, Boskalis expects to launch the offer in the second half of February. Boskalis will declare the offer unconditional if more than 75 percent of the outstanding Smit shares are tendered.

Heavy Lift | News

LR 13000 crane cuts load time thumbnail image

LR 13000 crane cuts load time

November 18 - Mexico’s ESEASA has used its 3,000-tonne capacity Liebherr LR 13000 crawler crane for the first time to load seven oil platforms onto barges at the port city of Tampico.
Views: 80
PAC invests in Baltimore terminals  thumbnail image

PAC invests in Baltimore terminals 

November 18 - Ports America Chesapeake (PAC) has implemented the Navis N4 terminal operating system (TOS) at the Seagirt and Dundalk marine terminals at the port of Baltimore. 
Views: 62
ACS expands US headquarters thumbnail image

ACS expands US headquarters

November 18 - Air Charter Service (ACS) has expanded its US headquarters in Long Island in order to facilitate future growth in the Americas region.
Views: 61
Lovemore steps up for steel move  thumbnail image

Lovemore steps up for steel move 

November 18 - South Africa’s Lovemore Bros has utilised its MultiMAX 2+6-axle stepdeck trailer from Faymonville to move a steel structure. 
Views: 67

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.