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Boskalis to sell Kotug Smit

Royal Boskalis Westminster and Kotug International have signed a letter of intent (LOI) to sell its joint venture Kotug Smit Towage to the Boluda Group.

Photo credit: Kotug Smit Towage

Under the terms of the LOI, Kotug Smit Towage is valued at EUR300 million (USD340 million). Boskalis said that it expects to receive approximately EUR90 million (USD102 million) in cash for its 50 percent stake in the company.

The deal is subject to customary conditions, including approval from regulatory agencies. The transaction is expected to close in the second half of 2019.

www.kotugsmit.eu

www.boluda.com.es

www.kotug.com

boskalis.com

Heavy Lift | News

Cargolux calls at Incheon thumbnail image

Cargolux calls at Incheon

July 17 - Cargolux Italia has launched a Boeing 747 service between Milan Malpensa Airport, Italy and Incheon, South Korea.
Views: 282
Express discharge at the port of Tyne thumbnail image

Express discharge at the port of Tyne

July 17 - Höegh Autoliners has transported five Hitachi TransPennine Express train carriages from Kobe, Japan to the port of Tyne in the UK. 
Views: 342

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