Boskalis completes sale of KST and Maju to Rimorchiatori Mediterranei
June 30 2022 - 4:15AM
Boskalis completes sale of KST and Maju to Rimorchiatori
Mediterranei
Papendrecht, 30 June 2022
Boskalis and its co-shareholder KS Investments Pte. Ltd.
(Keppel) have completed the sale of their equity stakes in their
harbor towage activities in Singapore and Malaysia (Keppel Smit
Towage Pte Ltd and Maju Maritime Pte Ltd) to Rimorchiatori
Mediterranei S.p.A. The intended sale was announced on 15 November
2021.Boskalis received EUR 92 million in cash for its 49% equity
stake in the joint ventures resulting in a pre tax book gain of
approximately EUR 50 million, both of which will be included in the
2022 first half year results. The activities and results of KST and
Maju were deconsolidated as per 1 January 2022.
Keppel Smit Towage (KST) was established in 1991 as a joint
venture between Keppel and SMIT, a wholly-owned subsidiary of
Boskalis. Over the past thirty years, KST/Maju has developed into
one of the largest and leading providers of harbor towage services
in Southeast Asia. KST/Maju operates a large fleet of tugboats in
Singapore and through its joint venture in Malaysia.
The sale of KST/Maju follows the strategic decision taken by
Boskalis in 2019 to divest its harbor towage activities. Boskalis
divested its stakes in Saam Smit Towage and Kotug Smit Towage in
2019.
Rimorchiatori Mediterranei S.p.A. is a subsidiary of
Rimorchiatori Riuniti Group, a leading maritime service provider
headquartered in Genoa, Italy established in 1922. Rimorchiatori
Mediterranei operates a fleet of more than 100 modern vessels in
more than 20 major ports employing approximately 900 people.
FOR FURTHER INFORMATION
Investor relations:Martijn L.D.
Schuttevâerir@boskalis.com
Press:Arno Schikkerpress@boskalis.com
T +31 786969310Royal Boskalis
Westminster N.V. is a leading global services provider operating in
the dredging, maritime infrastructure and maritime services
sectors. The company provides creative and innovative all-round
solutions to infrastructural challenges in the maritime, coastal
and delta regions of the world. With core activities such as
coastal defense, riverbank protection and land reclamation Boskalis
is able to provide adaptive and mitigating solutions to combat the
effects of climate change, such as extreme weather conditions and
rising sea levels, as well as delivering solutions for the
increasing need for space in coastal and delta
regions across the world. The company facilitates the development
of offshore energy infrastructure, including renewable wind energy.
Boskalis is furthermore active in the construction and maintenance
of ports, waterways, access channels and civil infrastructure, thus
helping to facilitate trade flows and regional socio-economic
development. In addition, Boskalis is a global marine salvage
expert and has a strategic partnership in terminal
services (Smit Lamnalco). With a
versatile fleet of more than 500
vessels and floating equipment and
approximately 10,000 employees, including
associates, Boskalis is creating new horizons around the
world.
This press release can also be found on our website
www.boskalis.com.
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