The possible was orignally announced in March 2016. The stake was sold to management and local investors, thereby returning the business of SAM to 100% South African ownership, Boskalis said in a statement.
Boskalis received a cash sum of approximately $53.13m from the sale. The activities and results of SAM will be deconsolidated with effect from 1 December 2016.
Following the sale, Boskalis will continue to be permanently represented in the region through the activities of SMIT Salvage.
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