Boskalis to acquire offshore wind energy related activities of VolkerWessels

7 March 2016 (Last Updated March 7th, 2016 18:30)

Dutch company Royal Boskalis Westminster has signed a letter of intent (LoI) to acquire maritime and offshore wind energy related activities of VolkerWessels.

Wind

Dutch company Royal Boskalis Westminster has signed a letter of intent (LoI) to acquire maritime and offshore wind energy related activities of VolkerWessels.

As part of the transaction, Boskalis will acquire VBMS, Stemat and Volker Stevin International (VSI). It will also carry out the two offshore wind park projects, Wikinger and Veja Mate, on a 100% basis.

The projects were acquired by Boskalis and VSI in late-2014 and mid-2015.

"For the coming years, we expect demand for offshore wind energy to further increase both in north-west Europe and beyond."

Royal Boskalis Westminster CEO Peter Berdowski said: "Over the last couple of years, we jointly increasingly targeted offshore wind opportunities and together acquired and completed projects successfully.

"For the coming years, we expect demand for offshore wind energy to further increase both in north-west Europe and beyond."

Under the terms of the LoI, Boskalis will acquire the remaining 50% share in VBMS, which is equally owned by Boskalis and VolkerWessels and is engaged in offshore cable installation.

Stemat offers specialised vessels including a cable laying vessel and multi-purpose vessels worldwide and VSI is engaged in the construction of offshore foundations and maritime constructions.

According to Boskalis, the targeted businesses' current annual revenue, excluding the two offshore wind park projects, amounts to €200m.

The transaction is subject to the satisfaction of customary conditions and is expected to close in the second quarter of this year.


Image: Boskalis will execute Wikinger and Veja Mate projects on a 100% basis. Photo: courtesy of Royal Boskalis Westminster NV.