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Boskalis takes 14.8% stake in Fugro

Boskalis takes 14.8% stake in Fugro
Royal Boskalis Westminster (Boskalis) has acquired a 14.8% stake Dutch subsea provider Fugro for an undisclosed sum.

“Boskalis views Fugro as an interesting company with activities that fit very well with its own activities. Boskalis wants to enter into a dialogue with Fugro to explore possible options for cooperation. Boskalis stresses that it has no intention to make an offer for Fugro,“ Boskalis said in a statement.

The strategy of Boskalis is focused on offshore and (maritime) infrastructure, making use of the combination of high end know-how and maritime assets. This fits very well with the activities of Fugro. The two companies have a lot in common in the area of assets, knowledge, capital intensity, global coverage, client base and are both global leaders in niche markets, the company said.

."For many years, we have worked together [with Fugro] on numerous projects throughout the world and there are strong similarities in the working environment and culture. We would like to speak and explore with the management of Fugro’s  possibilities for cooperation. We support the recently realigned strategy of Fugro, and do not intend to make an offer, "said Boskalis ceo Peter Berdowski. 

Fugro employs approximately 12,500 employees in over 60 countries.